| Biography:
Alan P. Parnes is a partner in the Tax Department of Proskauer Rose LLP in New York City and is a Co-Chair of the Transactional Tax Practice Group. He has been practicing law since 1977 and has been at Proskauer since 1980. His tax practice is a broad-based commercial tax practice. In the international tax area, he has counseled U.S. clients establishing operations and conducting business overseas through wholly owned subsidiaries and joint ventures with both domestic and foreign partners, as well as clients exporting products to foreign markets and licensing intangible property to foreign licensees. In this aspect of his practice, he has focused on issues involving U.S. tax deferral, the minimization of foreign income, withholding and other taxes, intercompany pricing and the maximization of available foreign tax credits. He has also counseled foreign clients on the many tax issues involved in conducting business in the U.S. As an outgrowth of his practice, he published an article in the Spring 1993 issue of the Journal of Corporate Taxation entitled "United State Tax Considerations in Organizing a Foreign Joint Venture."
Alan is a member of Proskauer's nationally recognized Hospitality Practice Group. Alan has consulted on tax matters in almost every aspect of the hospitality industry.
A substantial portion of Alan's practice consists of structuring and negotiating the tax-free and taxable disposition and acquisition of business through corporate and partnership entities. He also has advised on the use of partnerships in diverse areas ranging from movie production and the ownership of cable systems and other media assets to securities and venture capital investments of all types. As a result of his commercial experiences, he has published an article in the Autumn 1992 issue of the Journal of Corporate Taxation entitled "The Hidden Perils of Preferred Stock," and has lectured on partnership issues and has published an article in New York University's Fifty first Institute on Federal Taxation entitled "Partnership Retirements and Distributions."
Since 1989, Alan's commercial practice also has included advising on the tax issue arising from complex bankruptcies. Among the bankruptcies in which he has been closely involved are L.J. Hooker, Al Copeland Enterprises, Vestron, Gibraltar Financial Corporation, Lone Star Industries, Cellcom, Roses Stores Inc., Reeves Industries and Buster Brown Apparel. He is a 1974 graduate of Columbia College and a 1977 graduate of the Harvard Law School.
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