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The Subprime Mortgage Crisis and D&O Insurance: A New Frontier of Litigation
The fallout from the virtual collapse of the subprime mortgage lending industry has just begun. Early estimates of subprime losses start at $100 billion and may rise to several times that amount. (Fin. Times, Nov. 6, 2007, at p. 18). As the various participants in the subprime market ' borrowers, originators, institutional investors, financial institutions, hedge funds, underwriters, warehouse lenders, insurers, corporate investors, and the list goes on and on ' continue to uncover the extent of their losses, the blame game among these participants is likely to be played out in courts across the country.
The targets of this litigation ' directors, officers, and the corporation itself ' will, more likely than not, have directors and officers' liability insurance. Whether a D&O policy will afford coverage for the litigation resulting from the collapse of the subprime mortgage lending industry is yet to be seen. As discussed below, there are several policy provisions that are likely to be relevant in the subprime context. Because coverage follows liability, an understanding of the potential coverage issues first requires an understanding of the claims themselves.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
When Is a Repair Structural or Nonstructural Under a Commercial Lease?
A common question that commercial landlords and tenants face is which of them is responsible for a repair to the subject premises. These disputes often center on whether the repair is "structural" or "nonstructural."