Devack & Chester PLLC

Register for JCK | June 6-9, 2025 JCK is the premier destination for the global jewelry trade to buy, sell, network, and discover the latest trends—all in one place.

The Corporate Transparency Act goes into effect on January 1, 2024. Is your business ready to report its beneficial owner information?

It’s important to make sure your Operating/Shareholders Agreement is comprehensive and covers most likely future scenarios.

The FTC has proposed a new rule banning essentially all non-compete agreements. Not only would the rule prohibit new non-compete agreements, but it would require employers to actively rescind existing non-compete agreements.

Non-compete agreements can be an effective tool to protect a company from its employees and independent contractors taking the skills and knowledge provided by the company to the employees and independent contractors to a competitor of the company or to start a competing company. It encourages freedom of information and development within the company, with the knowledge and reassurance that the information and skills cannot be used against the company for at least a certain period of time.

On the other hand, non-competes have become widely overused, more than necessary to protect the businesses, and can seriously hinder an individual’s ability to work and earn a living in his/her chosen field. It is also argued that non-compete agreements impede healthy competition and hinder entrepreneurship.

There are legitimate arguments and important interests on both sides of the debate, and while this rule is only in its initial stages and much remains to be seen with regard to whether and in what form this rule becomes effective (also if it will be successfully challenged if it becomes operative), businesses and individuals on both sides of current non-compete agreements should be aware of the potential effects on them. In addition to the Public Hearing tomorrow, public commenting is currently open for the proposed rule: https://www.regulations.gov/document/FTC-2023-0007-0001

It’s important to have a well-drafted Operating Agreement that addresses you and your business specifically.

Dear Clients, Colleagues, and Friends,

It is with great pleasure we announce an exciting new chapter for our firm. Effective August 1, 2020, the Law Offices of Mitchell J. Devack, PLLC has become Devack & Chester PLLC.

This change marks the addition of Christine Chester as a named partner of the firm. Christine originally joined the Law Offices of Mitchell J. Devack, PLLC in 2010 as a law student intern and has remained with the firm as an associate attorney since her admission to the New York Bar in 2012. As you know from working with her over the past years, Christine is involved in all facets of the firm’s practice and has become an integral part of the firm and its future.

As always, we remain committed to providing dedicated counsel and advocacy for our clients and look forward to continuing to work with you over the coming years.

As bankruptcy filings escalate, the importance of proper Consignment Agreements and UCC Filings has become very apparent. Don’t let your consigned goods slip away; call us today to review your consignment programs and ensure proper protective measures and filings are in place before it’s too late.

The Eye of the Bankruptcy Storm Corporate bankruptcy filings are on the rise, but experts say it’s about to get much worse.

Will my business interruption insurance cover this closure due to COVID-19?

Unfortunately, diseases are generally one of many exclusions found in standard business interruption provisions, which require direct physical loss or damage to property in order to make a claim. However, there may be hope. Lawmakers in a few states, New York included, have introduced bills that would require insurers to cover such losses, with various requirements and restrictions, due to the current Covid-19 pandemic, despite the exclusions in the contracts of insurance.
Whether and in what form these bills will become law and whether your business may be eligible to file an insurance claim remains to be seen. In the meantime, we strongly recommend that your review your insurance policies and contact your insurance carrier to put them on notice that you may pursue a claim.