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When Is an Insured Entitled to Independent Counsel?
A claim is made against the insured. The insurer has a duty to defend. The insurer agrees to defend subject to a reservation of rights, and refers the matter to panel counsel. The insured asserts that the reservation of rights creates a right to independent counsel, paid for by the insurer. Is the insurer obligated to provide independent counsel? Not necessarily.
This article discusses the judicial and legislative bases for the right to independent counsel and identifies situations/circumstances where courts have or have not found that such a right exists. Somewhat surprisingly, the courts have been relatively restrictive as to what situations create a right to independent counsel. Please note that this is not an exhaustive review of the law in all states, but is designed more as a survey of those states that generally have a more developed body of insurance law.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?