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Case Briefs
Buss Stop: Illinois Refuses Insurers' Recovery of Defense Costs
On March 24, 2005, the Illinois Supreme Court reversed the decisions of the lower courts and held that an insurer cannot recoup defense costs after a court finds there is no coverage for the claim. General Agents Ins. Co. of Am., Inc. v. Midwest Sporting Goods Co., __ N.E.2d __, No. 98814, 2005 WL 674685 (Ill. Mar. 24, 2005). The court acknowledged its opinion followed the “minority view,” also adopted by Wyoming, Hawaii, Texas, Pennsylvania and Missouri. California, in the seminal case of Buss v. Superior Court, 16 Cal.4th 35, 939 P.2d 766, 65 Cal. Rptr. 366 (1997), along with Florida, Colorado, Minnesota, Louisiana and Ohio, follow the “majority” position. The stated majority holds that insurers can recoup defense costs when the insurer did not have a duty to defend, the insurer timely and expressly reserved its rights to recover defense costs, and the policyholder has not objected thereto or has accepted the payment for defense costs. Id. at *11.
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.
Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
Mission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."