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Issues Regarding the Reasonableness of Settlement in London Coverage Arbitration
It is an all too common scenario. A policyholder is the target of a lawsuit and makes a claim to its insurer. Even though the claim appears to be covered, the insurer ultimately refuses to participate in the defense of the lawsuit and denies the claim, leaving the policyholder to fend for itself. The policyholder decides it is in its best interest to settle the lawsuit. The policyholder informs the insurer and asks it to participate in the settlement. The insurer reiterates its denial of coverage and refuses to participate in, or contribute to, the settlement. The policyholder negotiates a settlement, and the court approves the settlement as reasonable and enters judgment based on the negotiated settlement. In some instances, the court expressly indicates that the settlement is to be binding on all parties, including insurers. The policyholder then pursues the insurer for the insurance coverage it believes it is entitled to.
This is sometimes referred to as “pay and chase,” where the insured pays the settlement or judgment and then chases its insurer for coverage. But what some policyholders may not realize is that the provision in their policy requiring that all disputes relating to the policy, including coverage disputes, be arbitrated in London, will likely change some of the applicable rules and create some additional hurdles to obtain coverage for their settlement.
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.