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CA Supreme Court Finds Exception to Foster-Gardner Rule
The Supreme Court of California, applying California law, held in Ameron International Corp. v. Insurance Co. of the State of Pennsylvania, No. S153852 (Cal. Nov. 18, 2010), that an administrative adjudicative proceeding before the former U.S. Department of Interior Board of Contract Appeals is a “suit” for purposes of coverage under a commercial general liability policy. The Supreme Court held that the rule espoused in Foster-Gardner, Inc. v. National Union Fire Insurance Co., 959 P.2d 265 (Cal. 1998), did not apply on the facts in this case. The Supreme Court made clear, however, that Foster-Gardner will “continue to apply to actions involving pollution remediation orders, or any matters that involve threats to take legal action only, rather than to 'suits.'” Between 1975 and 1980, the policyholder manufactured concrete siphons for use in the Central Arizona Project aqueduct system. The Department of the Interior discovered defects in the siphons in 1990, and in 1995 its contracting officer issued a decision seeking approximately $40 million in damages from the policyholder. The policyholder appealed the contracting officer's decision to the Department of Interior Board of Contract Appeals (“IBCA”). After 22 days of proceedings, the policyholder settled with the government for $10 million. When the insurers denied coverage for defense costs and indemnification, the policyholder filed suit.
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.
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 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 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.
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.