Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
NJ Takes the Lead on Another Environmental Coverage Issue: Allocation Choice of Law
In one of the nation's first and most comprehensive allocation choice-of-law decisions, a court recently rejected insurers' claims that allocation law of the forum applies to property damage arising at multiple environmental sites if the policyholder's coverage action is venued in New Jersey. The decision was rendered in four companion environmental coverage cases involving a common choice-of-law issue. See General Electric Co., as successor in interest to RCA Corp. v. Certain Underwriters at Lloyd's London, Docket No. MER-L-4931-87 c/w MER-L-6432-88 (Law Div. Mar. 25, 2004), reconsid. den., (Law Div. May 12, 2004) (hereinafter “RCA“); Home Ins. Co. v. Cornell-Dubilier Electronics, Inc., Docket No. MER- L-5192-96 c/w MER-L-2773-02 (Law Div. Mar. 25, 2004), reconsid. den., (Law Div. May 12, 2004); Sterling Winthrop, Inc. v. Royal Indem. Ins. Co., Docket No. MER-L-101-94 c/w MER-L-106-94 (Law Div. Mar. 25, 2004); Rohm & Haas Co. v. Allianz Underwriters, Inc., Docket No. MER-L-4920-87 c/w MER-L-4664-95 (collectively, the “Companion Cases“). The court concluded that the law of the state in which each waste site is located presumptively applies to the allocation of damages. This decision, now the subject of pending appeals, is likely to reach New Jersey's Supreme Court because it was rendered in “high stakes” cases, and it has broad application to many other environmental coverage actions. If the Supreme Court ultimately takes up the matter ' something the court has demonstrated a willingness to do in connection with other challenging coverage issues (see, eg, Spaulding Composites Co. v. Liberty Mutual Ins. Co., 176 N.J. 25, 819 A.2d 410 (2003) (granting leave for interlocutory appeal regarding inapplicability of non-cumulation clause); Pfizer, Inc. v. Employers Ins. of Wausau, 154 N.J. 187, 721 A.2d 634 (1998) (granting leave for interlocutory appeal regarding choice-of-law governing interpretation of pollution exclusion); Carter-Wallace v. Admiral Ins. Co., 154 N.J. 312, 712 A.2d 1116 (1998) (granting interlocutory appeal regarding allocation) ' it will be the highest state court in the nation to resolve an allocation choice-of-law dispute in a multistate, multisite environmental coverage action.
Varying Allocation Approaches
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.