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Case Briefs
The Ongoing Debate Regarding Recoupment of Defense Costs
On Aug. 17, 2010, the Supreme Court of Pennsylvania issued its decision in American and Foreign Insurance Co. v. Jerry's Sport Center, Inc., No. 88 MAP 2008, 2010 WL 3222404 (Pa. Aug. 17, 2010). The Pennsylvania high court held that when an insurance policy does not expressly provide for recoupment of defense costs, a unilateral reservation of rights letter citing the intent to seek reimbursement does not entitle the insurer to recoup from the policyholder costs the insurer spent defending an underlying suit prior to obtaining a declaratory judgment that no duty to defend existed. The court did not reach the issue of recoupment of indemnity costs in this case. Just a day earlier, however, the U.S. Court of Appeals for the Tenth Circuit in Valley Forge Ins. Co. v. Health Care Mgt. Partners, Ltd., No. 09-1251 (10th Cir. Aug. 16, 2010), predicted that Colorado would allow recoupment of defense costs by insurers, underscoring the ongoing debate on this question throughout the country.
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.