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Massachusetts Court Adopts Pro Rata Liability Allocation
In what can only be described as a major victory for insurers, the Massachusetts Supreme Judicial Court (“SJC”) ' the state's highest court ' responded to certified questions from the United States Court of Appeals for the First Circuit by rejecting a joint and several (also known as “all sums”) approach to liability allocation for progressive injuries, and instead adopting a pro rata method of liability allocation. Boston Gas Co. v. Century Indem. Co., SJC-10246, slip op. at 2 (Mass. Jul. 24, 2009). In addition, the SJC adopted the time-on-the-risk method of prorating liability in the “absence of evidence more closely approximating the actual distribution of property damage.” Id. Finally, the SJC concluded that an insured must bear a pro rata share of the losses for all time periods where it was self-insured.
The Case
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.