Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
NY: Insured's Entitlement to Declaratory Action Attorneys' Fees Is Limited to Two Instances
In Liberty Surplus Ins. Corp. (“Liberty”) v. Segal Co. (“Segal”), Nos. 04-5562-cv & 04-6005-cv, 2005 U.S. App. LEXIS 16601, 2005 WL 1869146 (2d Cir. Aug. 9, 2005), in a per curiam opinion, the Second Circuit reaffirmed its view that New York allows awarding a successful insured its declaratory action attorneys' fees in two instances: 1) where the “policyholder has been cast in a defensive position by its insurer in a dispute over the insurer's duty to defend,” or 2) where the insurer is guilty of bad faith.
As reflected in a summary order that accompanied the per curiam opinion, the case began when Liberty sued for a declaratory judgment that it owed no duty to indemnify Segal under a second layer excess liability insurance policy for a suit filed by Suffolk County. 2005 U.S. App. LEXIS 16748, 2005 WL 1874725 (2d Cir. Aug. 9, 2005). Segal counterclaimed for a declaratory judgment, breach of contract, fraud and attorneys' fees. The district court ruled that Liberty's policy covered the Suffolk action, but Liberty was not in breach because the policies beneath it had not been exhausted so as to trigger Liberty's obligations. The district court also dismissed Segal's fraud claim and refused to award it declaratory action fees. The Second Circuit affirmed the coverage judgment in its summary order that will remain unpublished. It treated Segal's attorneys' fee claim in the per curiam opinion.
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.