The NCBA Criminal Justice Section held the 15th Annual Criminal Justice Peter S. Gilchrist III & Wade M. Smith Awards Dinner in Raleigh on January 18, 2024. Kearns Davis, a partner at Brooks Pierce in Greensboro, and a former Chair of the Criminal Justice Section, was the recipient of the 2023 Wade M. Smith Award. The late Elizabeth “Beth” Dierauf, a longtime Assistant District Attorney for Henderson, Transylvania, Polk, Rutherford, and McDowell Counties, was named the recipient of the 2023 Peter S. Gilchrist III Award. Beth lost a long battle with cancer on November 11, 2023.
Kearns graciously shared his remarks from the dinner, which are posted in their entirety below:
I wish so much I could share this evening with Beth Dierauf. I never had the opportunity to work with Beth, but I’ve learned about her since this event was scheduled. She and I have worked with a lot of the same people, and our kids are about the same ages and have much in common. I feel almost like I knew her, and I wish I’d had that privilege. If Beth were here, I imagine she would feel what I feel tonight: a deep sense of gratitude for the opportunity to work with an amazing group of dedicated lawyers and judges in the criminal justice system; thankful that her life’s work has made a difference in her community and her state; and honored to spend this evening with people she admires and respects so much.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00CriminalJusticehttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngCriminalJustice2024-02-29 16:02:202024-02-29 16:02:20Kearns Davis' Remarks at 15th Annual Criminal Justice Peter S. Gilchrist III & Wade M. Smith Award Dinner
Thomas C. Watkins recently received the North Carolina Bar Association Business Law Section’s highest honor, its Distinguished Service Award. The NCBA presents the Distinguished Service Award to recognize extraordinary service to the Business Law Section, the legal profession and the public.
In making the nomination, April Kight said of her colleague, “Tom Watkins is a wonderful teacher and leader. He is an excellent lawyer and advocate for his clients, with the best combination of knowledge and practical application. He has given much of his time to the management of our firm, the North Carolina Bar Association and the community. I can’t think of a more deserving recipient.”
Mr. Watkins is a past member of the Board of Governors of the NCBA and served as Chair of the Bar Association’s Business Law Section when that organization launched NC LEAP, now known as the Entrepreneurs Assistance Program. Under this initiative, NCBA members volunteer their time and expertise to support low-wealth entrepreneurs.
Thomas C. Watkins
In addition to his active engagement with the NCBA, he has served the community and the state in many leadership roles. He is a past member of the Board of Visitors of the University of North Carolina at Chapel Hill, a past member of the Board of Directors of the Greensboro Sports Council, a member of the Board of Directors of the Piedmont Triad Charitable Foundation (Wyndham Championship/PGA Tour Event), a past member of the Boards of Visitors of UNC Children’s Hospital and UNC Lineberger Comprehensive Cancer Center, a past President of Greensboro Country Club and a member of the Board of Directors of Wheels4Hope.
At Schell Bray PLLC, he is the former chair of the firm’s Executive Committee and focuses his legal practice primarily on closely held businesses and investment vehicles. He has extensive experience in representing investors, borrowers and lenders in a broad range of complex transactions, including debt and equity investments, financings, mergers and acquisitions and restructurings.
In addition to the 2024 Distinguished Service Award, Mr. Watkins’ professional recognition includes:
The Best Lawyers in America, named 2023 Piedmont Triad “Lawyer of the Year” in Corporate Law
The Best Lawyers in America, named 2013 Greensboro “Lawyer of the Year” in Banking and Finance Law
The Best Lawyers in America, listed for banking, finance and corporate law, 2001-2023
Business North Carolina, Legal Elite, business law, multiple prior listings
North Carolina Super Lawyers, business/corporate law, multiple prior listings
Martindale-Hubbell AV Preeminent™ Peer Review Rated
Andrew Steffensen is the chair of the NCBA Business Law Section Communications Committee.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00Businesshttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngBusiness2024-02-27 11:45:082024-02-27 11:45:08Thomas C. Watkins Receives the Business Law Section's Distinguished Service Award
In the dynamic world of law, where traditional classroom learning meets real-world application, externships and pro bono projects play pivotal roles in shaping future legal professionals. This month, we had the privilege of interviewing three law students who are gaining experience outside the classroom, either through volunteering for pro bono causes or gaining course credit in legal externships. By highlighting their work, we hope to provide some insight as to how you can secure an externship or find the right pro bono project — and the sorts of skills you may gain along the way.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00NCBA YLDhttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngNCBA YLD2024-02-27 09:40:572024-02-27 09:40:57Unlocking Opportunities: Duke Law Students Create Lasting Memories in Externships and Pro Bono Projects
Brooks Pierce has expanded its Raleigh office with the addition of 5,915 square feet of space on the eighteenth floor of the Wells Fargo Capitol Center at 150 Fayetteville, bringing the law firm’s total Raleigh footprint to 43,047 square feet. The expanded office space is connected to the existing space with a newly designed internal staircase. As part of the expansion, the law firm added important works to its distinguished collection of North Carolina art, including works by Gayle Stott Lowry, Joe Cox, Henry Pearson, and Keiko Genka, as well as a commissioned work by Raleigh-based artist Mia Yoon.
Capua Law Adds Attorneys
Natalia Lynn Talbot has joined Capua Law Firm, and she is based in the Asheville office. She brings more than ten years of experience as an attorney to this role. She has practiced criminal prosecution, bankruptcy litigation, commercial litigation, and federal appellate litigation. She graduated from Boston College Law School. After earning her J.D., she became an assistant district attorney for the Commonwealth of Massachusetts. She served as a federal law clerk under W. Carleton Metcalf, U.S. Magistrate Judge in the Western District of North Carolina. Talbot serves on the board of directors for BarCARES and was an NC Pro Bono Honor Society inductee (2022).
Sam Maier has also joined the firm. He is experienced in litigation strategy development and trial preparation. Before joining the firm, he practiced in Wilmington. He also has experience as an attorney with the International Maritime Group in Seattle, Wash. He received his J.D., cum laude, from George Washington Law School, where he graduated with honors and was a Thurgood Marshall Scholar. He holds a B.S., cum laude, from the University of Wisconsin in Oshkosh. He majored in political science and philosophy with a minor in European studies. Read more
The legal landscape is evolving, and diversity in the legal profession is becoming increasingly important. Recognizing this, the Minorities in the Profession Committee of the North Carolina Bar Association recently hosted an enlightening event – the “Minority Corporate Counsel: Being Diverse in Corporate Law” panel. The purpose of this event was to provide a platform for students and alumni interested in corporate law to connect with and gain insights from diverse in-house attorneys and legal professionals in the corporate sector.
The allocation of income when the ownership of an S corporation changes is discussed in my previous article Section 1377(a)(2) Elections for S Corporations. That article explains the default method for allocations of income when an ownership change occurs as to an S corporation is the proration method. However, one can make a Section 1377(a)(2) election and instead use the closing of the books method. In contrast, in the case of partnerships, the default is the opposite.
Pursuant to Reg. § 1.706-4(a)(3)(iii), “absent an agreement of the partners . . . to use the proration method, the partnership shall use the interim closing method.” Reg. § 1.706-4(f) defines “agreement of the partners” to mean either (i) an agreement of all the partners to select the method in a dated, written statement maintained with the partnership’s books and records or (ii) a selection made by a person authorized to make such selection under state law or the partnership agreement, provided that person’s selection is in a dated, written statement maintained with the partnership’s books and records. The interim closing method is similar to the S corporation closing of the books method. The interim closing method generally treats each change in partnership ownership as the time to close the books for such interim period. That means only partners who were owners in such period are allocated income and loss that occurred during the period. However, the regulations provide great flexibility in determining the length of interim periods.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00TAXhttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngTAX2024-02-20 08:41:392024-03-13 13:29:44Allocation of Income When a Partner Leaves a Partnership
Throughout the year, the Sports & Entertainment Law Section will be conducting interview spotlights of its members to showcase the careers of the section members. This month, the section is spotlighting Douglas Wood, formerly with the law firm of Reed Smith LLP, and now enjoying a solo practice in North Carolina after 47 years toiling in “Big Law.”
What brought you into sports or entertainment law, and what area of sports/entertainment law do you currently practice?
In law school, I focused on intellectual property. I continued focusing on intellectual property while pursuing my LLM. After receiving my LLM, I was very fortunate to get a job at a boutique music and entertainment law firm. The rest is history!
Over time, my practice evolved and now focuses on transactions in the advertising and marketing industry. Examples include media buying, licensing, and endorsements.
MIP’s Get to Know New Members is a new blog feature to spotlight new members to the MIP Committee from North Carolina’s community of diverse attorneys and legal professionals. Members have the opportunity to introduce themselves to the broader community through a brief set of interview questions. Everyone, meet Michelle Dewkett-Kocchar.
What law school did you attend and what was your graduation year?
Campbell Law School, 2019.
Describe a typical day in your life.
After taking my puppy to the park for our morning play time and meeting our friends, I spend my day in the office working talking to clients and working through workers’ comp cases before coming home and making dinner for my husband and me. I love to spend my free time baking, reading, going on walks with my husband and dog, and just watching TV with them and our three cats.
I vividly recall the first time I flew on an airplane as a new parent. My infant was snuggled into my chest in a secure baby wrap so my hands could still juggle the diaper bag, plus my own carry-on bag. Walking through the aisle and making eye contact with fellow passengers over the top of the baby’s head could very well have been a fascinating social experiment. There were those who smiled generously, some who softly let out a little “awww,” and others who frowned and quickly looked away as they silently hoped my seat was far from theirs.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00barcareshttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngbarcares2024-02-09 12:48:202024-02-09 13:17:32Attorney Well-Being Is Always a Priority, and BarCARES Can Help
The Administrative Law Section established the Award for Excellence to recognize members of the section who have made significant and lasting contributions to the practice of administrative law. These individuals are experienced members of the profession and are in good standing concerning their practice. The recipient must have practiced administrative law for five years. The nomination letter should indicate the above criteria and specific examples of how the nominee has made significant, lasting contributions.
Some of the prior recipients of the award are Julian Mann, Fred Morrison, Nick Fountain, Jack Nichols, Dan McLawhorn, Molly Masich, Ann Wall and Jeff Grey.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00Administrativehttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngAdministrative2024-02-07 11:15:362024-02-07 11:15:36Nominations for Administrative Law Award for Excellence
Kearns Davis’ Remarks at 15th Annual Criminal Justice Peter S. Gilchrist III & Wade M. Smith Award Dinner
Criminal JusticeThe NCBA Criminal Justice Section held the 15th Annual Criminal Justice Peter S. Gilchrist III & Wade M. Smith Awards Dinner in Raleigh on January 18, 2024. Kearns Davis, a partner at Brooks Pierce in Greensboro, and a former Chair of the Criminal Justice Section, was the recipient of the 2023 Wade M. Smith Award. The late Elizabeth “Beth” Dierauf, a longtime Assistant District Attorney for Henderson, Transylvania, Polk, Rutherford, and McDowell Counties, was named the recipient of the 2023 Peter S. Gilchrist III Award. Beth lost a long battle with cancer on November 11, 2023.
Kearns graciously shared his remarks from the dinner, which are posted in their entirety below:
I wish so much I could share this evening with Beth Dierauf. I never had the opportunity to work with Beth, but I’ve learned about her since this event was scheduled. She and I have worked with a lot of the same people, and our kids are about the same ages and have much in common. I feel almost like I knew her, and I wish I’d had that privilege. If Beth were here, I imagine she would feel what I feel tonight: a deep sense of gratitude for the opportunity to work with an amazing group of dedicated lawyers and judges in the criminal justice system; thankful that her life’s work has made a difference in her community and her state; and honored to spend this evening with people she admires and respects so much.
Read more
Thomas C. Watkins Receives the Business Law Section’s Distinguished Service Award
Business LawThomas C. Watkins recently received the North Carolina Bar Association Business Law Section’s highest honor, its Distinguished Service Award. The NCBA presents the Distinguished Service Award to recognize extraordinary service to the Business Law Section, the legal profession and the public.
In making the nomination, April Kight said of her colleague, “Tom Watkins is a wonderful teacher and leader. He is an excellent lawyer and advocate for his clients, with the best combination of knowledge and practical application. He has given much of his time to the management of our firm, the North Carolina Bar Association and the community. I can’t think of a more deserving recipient.”
Mr. Watkins is a past member of the Board of Governors of the NCBA and served as Chair of the Bar Association’s Business Law Section when that organization launched NC LEAP, now known as the Entrepreneurs Assistance Program. Under this initiative, NCBA members volunteer their time and expertise to support low-wealth entrepreneurs.
Thomas C. Watkins
In addition to his active engagement with the NCBA, he has served the community and the state in many leadership roles. He is a past member of the Board of Visitors of the University of North Carolina at Chapel Hill, a past member of the Board of Directors of the Greensboro Sports Council, a member of the Board of Directors of the Piedmont Triad Charitable Foundation (Wyndham Championship/PGA Tour Event), a past member of the Boards of Visitors of UNC Children’s Hospital and UNC Lineberger Comprehensive Cancer Center, a past President of Greensboro Country Club and a member of the Board of Directors of Wheels4Hope.
At Schell Bray PLLC, he is the former chair of the firm’s Executive Committee and focuses his legal practice primarily on closely held businesses and investment vehicles. He has extensive experience in representing investors, borrowers and lenders in a broad range of complex transactions, including debt and equity investments, financings, mergers and acquisitions and restructurings.
In addition to the 2024 Distinguished Service Award, Mr. Watkins’ professional recognition includes:
Andrew Steffensen is the chair of the NCBA Business Law Section Communications Committee.
Unlocking Opportunities: Duke Law Students Create Lasting Memories in Externships and Pro Bono Projects
Young Lawyers DivisionIn the dynamic world of law, where traditional classroom learning meets real-world application, externships and pro bono projects play pivotal roles in shaping future legal professionals. This month, we had the privilege of interviewing three law students who are gaining experience outside the classroom, either through volunteering for pro bono causes or gaining course credit in legal externships. By highlighting their work, we hope to provide some insight as to how you can secure an externship or find the right pro bono project — and the sorts of skills you may gain along the way.
Read more
Checking In: February 27, 2024
Checking InCompiled by Jessica Junqueira
Brooks Pierce Announces Raleigh Office Expansion
Brooks Pierce has expanded its Raleigh office with the addition of 5,915 square feet of space on the eighteenth floor of the Wells Fargo Capitol Center at 150 Fayetteville, bringing the law firm’s total Raleigh footprint to 43,047 square feet. The expanded office space is connected to the existing space with a newly designed internal staircase. As part of the expansion, the law firm added important works to its distinguished collection of North Carolina art, including works by Gayle Stott Lowry, Joe Cox, Henry Pearson, and Keiko Genka, as well as a commissioned work by Raleigh-based artist Mia Yoon.
Capua Law Adds Attorneys
MIP Event Recap: Insights from NCBA’s Minority Corporate Counsel Panel
Minorities In the ProfessionThe legal landscape is evolving, and diversity in the legal profession is becoming increasingly important. Recognizing this, the Minorities in the Profession Committee of the North Carolina Bar Association recently hosted an enlightening event – the “Minority Corporate Counsel: Being Diverse in Corporate Law” panel. The purpose of this event was to provide a platform for students and alumni interested in corporate law to connect with and gain insights from diverse in-house attorneys and legal professionals in the corporate sector.
Read more
Allocation of Income When a Partner Leaves a Partnership
Tax SectionThe allocation of income when the ownership of an S corporation changes is discussed in my previous article Section 1377(a)(2) Elections for S Corporations. That article explains the default method for allocations of income when an ownership change occurs as to an S corporation is the proration method. However, one can make a Section 1377(a)(2) election and instead use the closing of the books method. In contrast, in the case of partnerships, the default is the opposite.
Pursuant to Reg. § 1.706-4(a)(3)(iii), “absent an agreement of the partners . . . to use the proration method, the partnership shall use the interim closing method.” Reg. § 1.706-4(f) defines “agreement of the partners” to mean either (i) an agreement of all the partners to select the method in a dated, written statement maintained with the partnership’s books and records or (ii) a selection made by a person authorized to make such selection under state law or the partnership agreement, provided that person’s selection is in a dated, written statement maintained with the partnership’s books and records. The interim closing method is similar to the S corporation closing of the books method. The interim closing method generally treats each change in partnership ownership as the time to close the books for such interim period. That means only partners who were owners in such period are allocated income and loss that occurred during the period. However, the regulations provide great flexibility in determining the length of interim periods.
Read more
Member Spotlight: Douglas Wood
Sports & Entertainment Law SectionBy Douglas Wood
Throughout the year, the Sports & Entertainment Law Section will be conducting interview spotlights of its members to showcase the careers of the section members. This month, the section is spotlighting Douglas Wood, formerly with the law firm of Reed Smith LLP, and now enjoying a solo practice in North Carolina after 47 years toiling in “Big Law.”
What brought you into sports or entertainment law, and what area of sports/entertainment law do you currently practice?
In law school, I focused on intellectual property. I continued focusing on intellectual property while pursuing my LLM. After receiving my LLM, I was very fortunate to get a job at a boutique music and entertainment law firm. The rest is history!
Over time, my practice evolved and now focuses on transactions in the advertising and marketing industry. Examples include media buying, licensing, and endorsements.
Read more
Get To Know New Members: Michelle Dewkett-Kochhar
Minorities In the ProfessionMIP’s Get to Know New Members is a new blog feature to spotlight new members to the MIP Committee from North Carolina’s community of diverse attorneys and legal professionals. Members have the opportunity to introduce themselves to the broader community through a brief set of interview questions. Everyone, meet Michelle Dewkett-Kocchar.
What law school did you attend and what was your graduation year?
Campbell Law School, 2019.
Describe a typical day in your life.
Read more
Attorney Well-Being Is Always a Priority, and BarCARES Can Help
BarCARESI vividly recall the first time I flew on an airplane as a new parent. My infant was snuggled into my chest in a secure baby wrap so my hands could still juggle the diaper bag, plus my own carry-on bag. Walking through the aisle and making eye contact with fellow passengers over the top of the baby’s head could very well have been a fascinating social experiment. There were those who smiled generously, some who softly let out a little “awww,” and others who frowned and quickly looked away as they silently hoped my seat was far from theirs.
Read more
Nominations for Administrative Law Award for Excellence
Administrative LawThe Administrative Law Section established the Award for Excellence to recognize members of the section who have made significant and lasting contributions to the practice of administrative law. These individuals are experienced members of the profession and are in good standing concerning their practice. The recipient must have practiced administrative law for five years. The nomination letter should indicate the above criteria and specific examples of how the nominee has made significant, lasting contributions.
Some of the prior recipients of the award are Julian Mann, Fred Morrison, Nick Fountain, Jack Nichols, Dan McLawhorn, Molly Masich, Ann Wall and Jeff Grey.
The deadline for receiving the nominations is Friday, February 16. For more information and to complete your nomination, visit the Administrative Law Award for Excellence webpage. For questions, email BreAnne Shieh.