Bloomberg Law

12 hours ago | news.bloomberglaw.com | Richard Tzul

A couple’s home is worth $535,000 after they failed to convince an Ohio appeals court on Friday that repairs for previously undisclosed defects justified a lower valuation for tax purposes. The $60,000 in repairs Scott and Samantha Skiles used to fix foundation cracks and a defective sewer train can be accounted for in property tax assessments but don’t solely mean the valuation should be lower, the Ohio Court of Appeals, First District said.

13 hours ago | news.bloomberglaw.com | Shruti Srivastava |Laura Kane

Prime Minister Narendra Modi will be attending the Canada-hosted Group of Seven summit later this month as ties between the two nations improve. The South Asian country is not a member of the G-7, a grouping of seven of the world’s richest countries, comprising the US, UK, Germany, France, Italy, Canada and Japan. But this will be India‘s 12th time participating and Modi’s sixth consecutive invitation to the summit.

13 hours ago | news.bloomberglaw.com | Perry Cooper |Richard Tzul

Clarity needed on ‘sham transaction’ doctrine, company saidNo legitimate reason for it to create subsidiary, state arguedSkechers USA Inc.'s decision to hand over its intellectual property to a holding company was done solely for the sake of tax avoidance, an appeals court ruled in an unpublished opinion.

17 hours ago | news.bloomberglaw.com | Allison McNeely |Dawn Lim |Preeti Singh |Marion Halftermeyer

Yale University’s $41 billion endowment, led for decades by the late investing giant David Swensen, has been the envy – and the blueprint — for many US universities eager to secure their financial future. Swensen was the face of higher education’s embrace of private equity, illiquid investments held for the long term. His push beyond the traditional stocks and bonds portfolio was a major part of the endowment’s size doubling five times over. And where Swensen went, others followed.

18 hours ago | news.bloomberglaw.com | Isabelle Kravis

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel. • The Transportation Department agreed to pay Quinn Emanuel’s Alex Spiro $2.1 million to investigation any connection between the Federal Aviation Administration’s DEI policies and recent safety incidents.