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Valuing Plaintiff's Recoverable Damages
When an insurer partially compensates its policyholder for a loss caused by a responsible party, it may assert a subrogation claim against the responsible party to recover the amount of the insurance benefits paid. The responsible party then is faced with two actions against it: a tort action and a subrogation action by the plaintiff's insurer. The party may find it in its interests to settle the subrogation action before or during the pendency of the tort action. If the defendant's settlement reimburses the insurer for all the benefits paid to the plaintiff (its policyholder), then any damages award will be reduced to account for the benefits paid.
But what happens when the responsible party settles the subrogation claim for less than the amount of benefits paid by the insurer? Can the party then offset a damages award by the full amount of the subrogation claim, and in so doing, potentially pay less than the full amount of the damages it caused? Only a few courts around the country have addressed this question, and they are split on the issue. This article examines the most recent decision, a particularly lucid, albeit unpublished, decision by the California Court of Appeal in De Anza Interiors, et al. v. Hsu, et al., 2011 WL 6402146, No. CV-08-2550 (Cal. Ct. App. Dec. 21, 2011), which answers the question in the affirmative.
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.
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.
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.
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?