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A Cautionary Tale: Reinsurer's Bad Faith Disavowal of Agreement Leads to Multiple Damages, Attorneys' Fees
On May 23, 2011, Judge Nancy Gertner of the U.S. District Court for the District of Massachusetts entered a judgment against a reinsurer, its controlling officer and the reinsurer's intermediary in the amount of $4.1 million for breach of contract, $4.1 million for double damages, $2.6 million for attorneys' fees and $1.6 million for prejudgment interest. The punitive elements of the judgment were awarded pursuant to the Massachusetts Unfair and Deceptive Trade Practices Act (“Chapter 93A”) due to the defendants' bad-faith disavowal of a reinsurance agreement. See Trenwick Am. Reins. Corp. v. IRC, Inc., __ F. Supp. 2d __, 2011 WL 570016, *24-28 (D. Mass. Feb. 16, 2011).
Trenwick reaffirms Judge Gertner's prior holding in Commercial Union Ins. Co. v. Seven Provinces Ins. Co., Ltd., 9 F.Supp.2d 49 (D.Mass. 1998), aff'd 217 F.3d 33 (1st Cir. 2000) that, where a “moving target” strategy is employed to coerce a favorable compromise of reinsurance obligations, the reinsurer's conduct may constitute a violation of Chapter 93A. Trenwick warns reinsurers and their officers not to turn what should be “a routine claim ' into a tortuous marathon.” Trenwick, 2011 WL 570016, at *3.
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.
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.
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.
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.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.