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The Final Pieces of the Trigger and Allocation Puzzle in New York
With the flurry of major insurance decisions pertaining to long-tail tort claims in the early 1990s, practitioners appear to take New York law largely for granted when assessing trigger and allocation issues. True enough, the basics are now “well settled”: an “injury in fact” trigger (American Home Products Corp. v. Liberty Mut. Ins. Co., 748 F.2d 760 (2nd Cir. 1984) (“AHP“)); an emphatic rejection of the so-called “all sums” approach to allocation (Consolidated Edison Co. v. Allstate Ins. Co., 746 N.Y.S.2d 622 (N.Y. 2002)); and adoption of a pro rata methodology, (Stonewall Insurance Company v. Asbestos Claims Management Corporation 73 F.3d 1178, 1192 n.5 (2nd Cir. 1995) (citing Owens-Illinois v. United Ins. Co., 138 N.J. 437 (N.J. 1994)); Con Ed, 746 N.Y.S.2d 622). All that said, we expect to see highly significant elaborations or refinements of the real world meaning of “injury in fact,” and these open issues may have consequences for a wide range of major claims.
Injury in Fact and Allocation in Fact: From AHP to Con Ed
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.