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Ford Credit to Exit Auto Leasing in New York and Rhode Island
In the May issue, author Pauline Clark discussed the Rhode Island Supreme Court's decision in Oliveira v. Lombardi, 794 A.2d 453 (R.I. 2002), holding that automobile leasing companies may be held liable under the state's vicarious liability statute for the negligence of drivers operating motor vehicles titled in the leasing companies' name. In a clear response to this and other similar cases, Ford Credit has announced that it plans to exit automobile leasing in Rhode Island in October 2003 and in New York after July 9, 2003.
The company noted specifically that Rhode Island's vicarious liability law has already caused finance companies to resolve litigation by making 'significant payouts.' It is hoped, however, that the pullout will not be permanent. Putting the issue squarely in the lap of state lawmakers, Ford credit regional manager, June Awad stated, 'we realize that the Rhode Island legislature is considering legislation that would remedy the situation. Ford Credit fully and actively supports this legislation and, if it is signed into law, we will continue to lease there.'
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.