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Krieg DeVault Podcast Series - We discuss the latest news, laws and trends affecting your industry.
This Krieg DeVault LLP publication should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own lawyer on any specific legal questions you may have concerning your situation. This newsletter may constitute advertising materials in some jurisdictions. If you forward this newsletter, please designate it as such.
© 2024 Krieg DeVault LLP. All Rights Reserved. Krieg DeVault LLP, Indianapolis, IN, is responsible for this content. This page, and all information on it, is proprietary and the property of Krieg DeVault LLP, and may not be reproduced, in any form, without Krieg DeVault LLP’s express written consent. This constitutes attorney advertising.
This Krieg DeVault LLP publication should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own lawyer on any specific legal questions you may have concerning your situation. This newsletter may constitute advertising materials in some jurisdictions. If you forward this newsletter, please designate it as such.
© 2024 Krieg DeVault LLP. All Rights Reserved. Krieg DeVault LLP, Indianapolis, IN, is responsible for this content. This page, and all information on it, is proprietary and the property of Krieg DeVault LLP, and may not be reproduced, in any form, without Krieg DeVault LLP’s express written consent. This constitutes attorney advertising.
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Last November, the architecture and engineering firm Guidon – a Krieg DeVault client – became partially employee-owned through an Employee Ownership Trust, or EOT. Guidon’s general counsel, Sonya Seeder, joins Brian Heaton, a longtime Krieg DeVault partner who helps middle- and lower-middle market corporate clients solve problems, to explore this emerging alternative to ESOPs. As they explain to host George Lepeniotis, EOTs operate through an employee ownership trust agreement, as opposed to an ESOP, which is governed by ERISA. Tune in as Brian and Sonya detail implications of the EOT mechanism, post-implementation employee education strategies, and ways that a firm like Krieg DeVault helps companies navigate the EOT process.Connect and Learn More☑️ Brian Heaton | LinkedIn☑️ Krieg DeVault LLP☑️ Sonya Seeder | LinkedIn☑️ Guidon on LinkedIn | Instagram | Facebook☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Indiana lawmakers have a short session and a healthy state budget. But they’ve still got a packed agenda in those few weeks. To help listeners know what to expect in the 124th assembly, host Randy Head visits with Sen. Sue Glick, assistant president pro tem and chair of the Natural Resources Committee. Among other items, lawmakers will consider the escalating cost of healthcare, guns in the hands of children, and the property tax bill that was passed last year. Reflecting on last year’s high-profile debate over redistricting, Sen. Glick highlights the importance of constituents knowing their lawmakers, from Indiana all the way to Washington, D.C. She also describes pressure from Washington to pass the redistricting bill – it failed – and lauds Sen. Rodric Bray, president pro tem, for his respectful handling of the political back-and-forth.Connect and Learn More☑️ Sen. Sue Glick | LinkedIn☑️ Indiana General Assembly☑️ Randy Head | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Data is everywhere – in smart devices, business operations, and consumer interactions. To unpack the privacy implications for listeners in healthcare and financial services, Krieg DeVault colleagues Stacy Long and David Bowen visit with host George Lepeniotis. With her focus on healthcare, Stacy offers her perspective on the ever-changing federal HIPAA law and the Indiana Consumer Data Protection Act, which took effect on Jan. 1 and gives individuals rights to protect their personal information. David, who focuses on financial services, offers his perspective on the interplay between the federal Gramm-Leach-Bliley Act and state laws that cover financial institutions. “Getting a compliance structure in now is advisable if these laws apply to you,” David suggests. Stacy notes that complying with privacy laws isn’t necessarily expensive – but penalties for violating the Indiana Consumer Data Protection Act can run up to $7,500 per violation.Connect and Learn More☑️ David Bowen | LinkedIn☑️ Stacy Long | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Businesses are often excited about the potential that AI tools could unlock, such as better efficiency and lower production costs. Lawyers, on the other hand, are in the business of thinking about liability. To give the lawyer’s perspective on AI, host George Lepeniotis welcomes Maria Geltz, an attorney in Krieg DeVault's Financial Services Group who recently spoke at the Indiana Manufacturers Association conference about how AI affects manufacturers. The first takeaway for businesses, Maria says, is to be cognizant of the jurisdictions where you operate and join discussions with local representatives about AI. Tune in as the colleagues cover regulatory regimes, vendor agreements, and IP laws and privileges. Connect and Learn More☑️ Maria Geltz | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Flagstar Bank expects to save $15 million annually by shedding its holding company—a trend that started about eight years ago. “It really got people thinking, ‘Do we really need a holding company today?,’” says Keaton Miller in this discussion about the benefits of holding companies. Keaton brings 13 years of in-house experience from Old National Bank to his role in Krieg DeVault's Financial Institutions Practice. In this conversation with George Lepeniotis, he traces the regulatory evolution from loopholes to compliance burdens, examines which institutions benefit most from simplification, and walks through the merger-like process. For banks not utilizing holding company benefits—like operating multiple depositories or engaging in specialized activities—Keaton suggests that the administrative and regulatory costs may no longer be justified.Connect and Learn More ☑️ Keaton Miller | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
The Trump administration's "One Big Beautiful Bill" is poised to significantly impact healthcare providers by changing Medicaid financing and reimbursement. Meghan Linvill McNab, a partner at Krieg DeVault who focuses on Medicare and Medicaid reimbursement, describes key contours of the new landscape: placing limitations on provider taxes and levels of state directed payment programs in Medicaid managed care. With host George Lepeniotis, she explains that the bill will limit some opportunities for states to use non-state dollars to fund their portion of a Medicaid expenditure. “That’s going to result in either the state having to put up more funding to keep reimbursement at the current levels, or it's going to result in reimbursement to providers decreasing because there's not as much funding,” she says. “So, something has to give to keep the balance.”Connect and Learn More☑️ Meghan Linvill McNab | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Clients have asked Brandon Shirley about acquiring a health entity that would qualify for the 340B Drug Pricing Program because, as he explains, “it does enable substantial benefits if you can get into it.” But the program is also complex. A healthcare Senior Counsel at Krieg DeVault, Brandon dissects 340B, which requires drug manufacturers to provide upfront discounts to eligible healthcare entities serving uninsured and low-income populations. With host George Lepeniotis, he clarifies who qualifies as a "covered entity," explains the disputes over patient eligibility definitions, and addresses the controversial manufacturer-proposed "rebate model". Connect and Learn More☑️ Brandon Shirley | LinkedIn☑️ Krieg DeVault ☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
When they launch a business, most founders don’t have selling on the top of their mind. But when it comes time to consider the future – for themselves, the company, and employees – an ESOP (Employee Stock Ownership Plans) can be a win-win.“A lot of founders would say, ‘I'm not ready to sell the company.’ But the beauty about the ESOP is that it can create a market for the sale of your shares … and you control the timing,” explains Bill Merten, a partner in Krieg DeVault’s ESOP Practice. In breaking down that beauty with Krieg DeVault colleague and host George Lepeniotis, Bill outlines the flexibility and financial benefits of ESOPs versus traditional sale options like private equity or strategic buyers. He describes the unique advantages to employee beneficiaries as well as founders and details how an ESOP is structured and financed.Connect and Learn More☑️ Bill Merten | LinkedIn☑️ Krieg DeVault | LinkedIn | X | Facebook | Instagram☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault | LinkedIn | X | Facebook | Instagram☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Coca-Cola, Kleenex, a ballpoint pen, a Marvin Gaye song: For consumers, they’re products to use and enjoy. For commercial enterprises, they’re intellectual capital that must be protected to ensure growth.Host George Lepeniotis invites colleagues Dan Tychonievich and Justin Sage, members of Krieg DeVault LLP’s Intellectual Property Practice, to break down the legal implications of owning IP. Using real examples, Dan and Justin explain the nuances of trade secrets (Coca-Cola’s recipe), trademarks (Kleenex’s brand), patents (an innovation to the existing ballpoint pen), and copyright (Marvin Gaye’s song). As Dan says: “You have to become aware that somebody may be infringing, whatever that is – a copyright, trademark, or a patent.”Tune in for their insights, and stay to the end for Dan’s joke about an “ant farm” trademark. Connect and Learn More☑️ Dan Tychonievich | LinkedIn☑️ Justin Sage | LinkedIn | X☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
For commercial contractors with projects valued in the tens, hundreds, or millions of dollars, getting paid is where the “rubber hits the road.” A mechanic’s lien can be a vehicle for securing payment – but it doesn’t automatically turn into dollars.In the last installment of this series on mechanic’s liens in Indiana, Blake Holler and Chris Bloomer, attorneys in Krieg DeVault’s Construction Law Practice, provide a high-level overview to guide commercial clients on what to expect on their path to payment. As they explain to hostGeorge Lepeniotis, a mechanic’s lien is a piece of paper, a first step toward preserving the right to get paid, but not the “end all, be all.” For contractors with state construction projects, Blake and Chris discuss the main tool available to enforce payment: the Little Miller Act. Finally, they offer tips for contractors, starting with “organization is key.” “You need to keep track of your invoices. When are payments due, what work was done? When did you start, when did you finish? Keeping track of all of those things is going to be the easiest way for you to not accidentally trip over yourself and lose a substantial right in the mechanic’s lien to enforce payment quickly,” Blake says.Connect and Learn More☑️ Blake Holler | LinkedIn | Email ☑️ Christopher Bloomer | LinkedIn | Email☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
"“The Department of Labor estimates that the increased income thresholds for exempt status beginning on July 1, 2024 and January 1, 2025 and adjusting in the future will impact up to 4.3 million workers. That’s why the time is right for employers to scrutinize what this new rule means for their budgets and workforce.”," says chair of Krieg DeVault’s Labor and Employment Practice Shelley Jackson.Shelley joins Krieg DeVault colleague and host George Lepeniotis to outline the legal risks. “If someone is improperly classified as an exempt worker under one of these standards, but does not actually qualify, it can lead to significant wages, penalties, and attorney fees,” she explains.Shelley puts the legal landscape into perspective by describing the statutory framework that governs minimum wage and overtime and the three types of employees who are typically exempt. Connect and Learn More☑️ Shelley Jackson | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | X | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
The area of law related to employer-sponsored health and welfare benefit plans impacts all employers in one way or another.In this episode of the Krieg DeVault Podcast Series, Krieg DeVault attorney George Lepeniotis is joined by fellow colleague Catherine “Katy” Stowers, a member of the firm’s Employee Benefits and Executive Compensation Practice Group. Tune in as George and Katy discuss key legislation such as ERISA, HIPAA, the Consolidated Appropriations Act, the Mental Health Parity and Addictions Equity Act, and recent changes to HIPAA privacy and security regulations concerning reproductive rights. This episode is a must-listen for employers, as it highlights the ever-evolving legal landscape of employee benefits.Connect and Learn More☑️ Catherine “Katy” Stowers | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | Twitter | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Non-compete agreements are common in many industries throughout the United States, but a new Federal Trade Commission rule could, with a few narrow exceptions, totally ban non-compete agreements.In this episode of the Krieg DeVault Podcast Series, Krieg DeVault attorney George Lepeniotis is joined by fellow colleagues Elizabeth Roberson and Scott Morrisson who each practice employment law. Tune in as George, Elizabeth, and Scott provide a brief overview of non-compete agreements and discuss a new FTC rule that could completely change the landscape of non-compete law in the US.Connect and Learn More☑️ Elizabeth Roberson | LinkedIn☑️ Scott Morrisson | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | Twitter | Facebook☑️ Krieg DeVault Insights: FTC Issues Rule Banning Non-Compete Agreements☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Property owners may cringe at the thought of a lien being attached to their property, but the strength of the mechanic’s lien statute is to get people–who have performed work on the property–paid.In this episode of the Krieg DeVault Podcast Series, Krieg DeVault attorney, George Lepeniotis welcomes back colleagues Blake Holler and Chris Bloomer, attorneys in the Construction Law Practice. Digging deeper into the nuances of mechanic’s liens in Indiana, Blake and Chris explore the property that can be the subject of a lien, who can record a lien, and under what circumstances to record a lien. Mechanic’s liens are tremendously powerful in encumbering property and applying pressure for payment upstream in construction projects. Chris and Blake stress the importance of working with a legal professional who has a strong understanding of lien rights, deadlines, and defenses to liens, given the distinct requirements for commercial and residential projects.Don't miss the latest installment discussing mechanic’s liens and their impact on the construction industry!Connect and Learn More☑️ Blake Holler | LinkedIn☑️ Chris Bloomer | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | Twitter | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
A construction site is a very complicated place. There’s a number of stakeholders and participants that can create both liability and risk.In this episode of the Krieg DeVault Podcast Series, Krieg DeVault attorney, George Lepeniotis speaks with colleagues Blake Holler and Chris Bloomer, attorneys in the Construction Law Practice. While some aspects of construction law look like the “Wild West,” much of the practice area is governed by statutory law. The trio discuss the importance of American Institute of Architects (AIA) documents, the standardized contracts that are foundational for many construction projects. While AIA documents can be important starting points, lawyers are still able to negotiate the specifics of contracts based on the needs of the project. Ultimately, these highly specialized construction contracts serve to prevent future litigation. Blake and Chris also begin a discussion about mechanic’s liens, which are governed by the hyper-technical Indiana Mechanic’s Lien Act, which will be the focus of future podcasts. Tune in as George, Blake, and Chris dive into the nuances of the industry.Connect and Learn More☑️ Blake Holler | LinkedIn☑️ Chris Bloomer | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | Twitter | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
In the digital age, where information is constantly being generated, the concepts of privacy are rapidly evolving, especially in the healthcare sector. This transformation has significant implications for both healthcare providers and patients.In this episode of the Krieg DeVault Podcast Series, Krieg DeVault attorney, George Lepeniotis speaks with colleague and healthcare regulatory attorney, Chris Kulik, about the timely and controversial topic of web tracking and information-gathering technologies, such as Google Analytics and Metapixel, how those technologies apply to healthcare organizations, and the associated HIPAA concerns.Tune in as George and Chris explore the intricate world of internet cookies and their usage, the delicate balance between safeguarding personal information and facilitating the free flow of data for healthcare improvement, and the insights every healthcare provider must possess to effectively navigate the increasingly complex landscape of privacy regulations.Connect and Learn More☑️ Christopher Kulik | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | Twitter | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Indiana is a great place to live and work because of the effort that the state legislature puts in behind the scenes. It may not always make headlines, but the state government understands the nuts and bolts of how to keep Indiana moving forward. In this episode of the Krieg DeVault Podcast Series, Krieg DeVault attorneys, George Lepeniotis and Randy Head, speak with Senator Rod Bray, President Pro Tempore of the Indiana State Senate. The trio discuss the priorities and challenges of Indiana’s legislature and other top issues important to Hoosiers right now. Tune in to hear about Senator Bray’s role as President Pro Tempore and what his job entails, what makes Indiana’s legislature so successful, and what to expect in the upcoming session. Their discussion also covers current topics that are top of mind in Indiana as well as nationally, such as the high costs of childcare, healthcare costs, rising housing costs, and alternative energy. Randy, who is also a former Indiana State Senator, talks about his experience in the Senate and describes the culture in the legislature that has served Hoosiers so well.Connect and Learn More☑️ Senator Rod Bray | LinkedIn☑️ Randy Head | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | Twitter | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
The deadline to comply with the Corporate Transparency Act (CTA), a new law that aims to combat illegal activity typically organized and run by nefarious entities, is fast approaching. Many corporations, LLCs, and other business entities that are privately held or family-owned will likely be subject to the reporting requirements under the CTA. Entities subject to the CTA reporting requirements will be subject to fines and other penalties if compliance is not met. In this episode of the Krieg DeVault Podcast Series, Krieg DeVault Business Practice attorneys, George Lepeniotis, Bob Greising, and Travis Lovett discuss the new reporting requirements under the CTA.Tune in as George, Bob, and Travis highlight the importance of understanding if a company qualifies as a reporting entity and the potential implications for small businesses. The discussion covers the exemptions available, and the challenges businesses may face in complying with the reporting requirements of the CTA. They also delve into who can access the reported information, mentioning criminal enforcement agencies and specific financial institutions. Krieg DeVault is actively assisting clients through alerts and communications while emphasizing the need for awareness and proactive planning to navigate the CTA successfully.Connect and Learn More☑️ Bob Greising | LinkedIn☑️ Travis Lovett | LinkedIn☑️ George Lepeniotis | LinkedIn☑️ Krieg DeVault LLP | LinkedIn | Twitter | Facebook☑️ Subscribe Apple Podcasts | Spotify | Amazon Music
Litigation Practice Partners Libby Yin Goodknight and Marc T. Quigley discuss the ins and outs of arbitration, and how it can be a good alternative to litigation.
In this podcast Mergers & Acquisitions attorneys Robert A. Greising and Amy L. VonDielingen discuss a continuation of our 2023 Deal Landscape focusing on Sellers, Financing and Earnouts.
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