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Oil Pollution Act of 1990: New Limitations on Liability
The risk of oil pollution liability for financial lessors of vessels operating in U.S. waters under the Oil Pollution Act of 1990 (“OPA 90″), 33 U.S.C. '2701 et seq., has been substantially ameliorated under new U.S. legislation, thereby restoring leasing as a more lessor-friendly financing option for vessels that trade in U.S. waters.
The Coast Guard and Maritime Transportation Act of 2004 (Pub. L. 108-293, 118 Stat. 1028) (the “New Act”) became law on Aug. 9, 2004. Section 703 of the New Act amends OPA 90 to provide for exemption from environmental damages liability of certain financing lessors. The New Act imports into OPA 90 the terms of the so-called “Secured Creditor Exemption” found in the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), 47 U.S.C. '9601 et seq.
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?
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.
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.
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.
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.