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March 2013 Archives

John Hancock sued by life insurance beneficiaries

Boston-based John Hancock Financial Services Inc. recently settled a case brought by the government that alleged that the company was not paying life insurance benefits in a timely manner. Now, the insurance giant is facing another business litigation case; this one is a lawsuit filed by a man who claims his mother's benefits were not paid on time.The lawsuit alleges that the insurance company used a database to stop payments immediately on annuity holders who had died but did not use the same information to make timely payouts of insurance benefits to survivors. Several life insurance companies have been accused of the same types of practices. John Hancock settled with the government for $13.3 million in November.

Massachusetts Attorney General calls for new housing leadership

Homeowners across the nation are struggling to make their mortgage payments, and Massachusetts Attorney General Martha Coakley is calling for changes in leadership at the Federal Housing Finance Agency to help these very homeowners. Coakley, along with attorneys general from several other states, is demanding the replacement of FHFA Director Edward DeMarco, whose agency oversees the operations of Fannie Mae and Freddie Mac, two government-backed mortgage finance organizations. Coakley and her counterparts have identified lending practices utilized by those organizations that they believe have contributed to the widespread mortgage crisis.

Newton real estate dispute resonates in Worcester

A recent decision by the Massachusetts Appeals Court overturns the right of a small lot property owner in Newton to build a home on its undersized parcel. Contrary to the building permits issued by Newton that would have otherwise allowed the new construction, ongoing real estate disputes between residential property owners in the area as well as ambiguous ordinance language led the Appeals Court to review and affirm the decision of the Massachusetts Land Court that prohibited building. The decision of the Appeals Court sets a significant precedent for other metropolitan communities, like Worcester, that decisions made by municipalities regarding zoning issues ultimately may not stand.

Ultrasonix acquired by Analogic Corporation

Analogic Corporation, a company that specializes in medical imaging and aviation security, has announced its acquisition of Ultrasonix Medical Corporation. The business formation cost the company $83 million, which may be adjusted per the purchase agreement. Ultrasonix supplies ultrasound systems that are compatible with Analogic's current technology. The purchase will be accretive at the start during the fiscal year 2014.The company plans to combine the Ultrasonix brand of products with its own BK Medical brand to strengthen its Global Ultrasound Group. Ultrasonix has established sales channels and point-of-care products that Analogic hopes to use to improve its own status as a supplier of mobile ultrasound solutions. According to Analogic's leaders, the company is proud to be working with Ultrasonix and the professional experience the company brings to bear in the ultrasound market.

How to avoid financial pitfalls in a Massachusetts divorce

Divorce is one of the most emotional and stressful things a person can go through in his or her lifetime. Many couples don't realize how expensive it can be, however, due to the long-term impact of a divorce on finances. Alimony and child support are only a few of the monetary considerations that must be taken into account. An experienced Central Massachusetts family law attorney would also inform potential clients that items such as retirement, taxes and insurance may also have a life-long impact on a person's financial well-being.

Medway Business Council discusses expansion

Business Council will meet in March 2013 to discuss new expansion planned for the town. Two people who will speak with the council are the commercial real estate developer in charge of the building of Tri Valley Commons and the economic development director. These two speakers will provide a synopsis of both economic development efforts and property development plans. Medway's economic development director has been negotiating with organizations across the region and the state of Massachusetts to solicit support for the town's economic and property development. She will be discussing marketing and regulations at the meeting. The commercial real estate developer will present an overview of the new plaza, which comprises of 35,000 square feet and has entered the permit stage.

Infidelity revealed in Moore and Kutcher divorce

As readers of our Worcester family law blog may be aware, a couple may decide to get divorced due to a multitude of reasons. Disagreement over finances, jobs and the stress of everyday life may cause a couple to split ways. Perhaps one of the biggest reasons for a Massachusetts divorce continues to be infidelity. Infidelity can place an irreconcilable strain on a relationship. This is true for both Central Massachusetts residents and celebrities.

Drop in Massachusetts foreclosure activity suggests promise

The Massachusetts housing market has suffered from an overabundance of foreclosures over the last several years. Recently, however, new data suggest that the state's real estate crisis may be beginning to lift. As a follow-up to our recent post about Massachusetts foreclosures, new numbers from the Warren Group indicate that foreclosures in the state are decreasing.

Report says mortgage agreement will aid Massachusetts borrowers

Despite signs of improvement, the rate of foreclosures is still an issue in Massachusetts. A reasonable percentage of homeowners in the state are still facing mortgage issues like loans that are worth more than the actual homes. This puts those homes at risk of foreclosure.

Boston Scientific plans to relocate global HQ

Boston Scientific officials met with the Marlborough City Council recently to announce plans to move the company's global headquarters to the city. Because this commercial real estate site is currently zoned partially as green space, the company is asking the council to change the zoning code so that the new building can be erected without variances sought from the Zoning Board of Appeals. The company decided in November to move its headquarters from Natick to Marlborough, where it already has an existing facility. The changes to the zoning code would allow the company to consolidate the various buildings into one campus. The three existing buildings are near the intersection of Interstate 495 and Interstate 290; the company wants to construct a fourth building that will contain 110,000 feet of space as an office headquarters.

Gray divorce rates double over past two decades

As addressed in previous blog posts, "gray" divorces are on the rise and are occurring at surprising rates. A gray divorce refers to a divorce among a couple in the Baby Boomer generation. Worcester divorce lawyers have seen first hand the rise in gray divorces over the past several decades, and have experience dealing with the additional issues that come along with these divorces.

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