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Mandatory Arbitration of GM and Chrysler Dealer Terminations
In 2009, Chrysler and General Motors declared bankruptcy and terminated almost 2,000 of their dealers as part of overall restructuring. The dealers turned to Congress for relief. Congress responded by passing a bill, signed into law on Dec. 16, 2009, providing for mandatory arbitration for dealers seeking reinstatement.
Congress set aggressive deadlines for finishing the arbitrations. By Jan. 15, 2010, Chrysler and GM had to provide terminated dealers with the criteria used to terminate them. Dealers had until Jan. 25 to decide whether to invoke arbitration to contest the termination. Congress designated the American Arbitration Association (“AAA”) to administer the arbitrations and required that the hearings be held in the dealer's state. Only limited document discovery was allowed, and each party was responsible for its costs and fees. All arbitrations had to be completed by June 14, 2010, which arbitrators could extend for 30 days for good cause.
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.
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.
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?