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Occurrence Analysis in First-Party Insurance
Among those courts to have considered the issue of what policies respond in the context of a first-party property claim, the overwhelming majority have recognized that manifestation is the appropriate measure. Under a manifestation theory, the insurer(s) on the risk when the loss is discovered (i.e., “manifests”) is obligated to provide coverage for the entire loss, even though the physical loss or damage may take place in more than one policy period.'
In contrast, a “continuous trigger” theory, which is applied by some courts in third-party liability cases to determine what policies respond, provides that all insurers on the risk from the beginning of the loss to the time it manifests owe coverage. The considerations that sometimes lead courts to apply a continuous trigger in the third-party liability context ' chief among them, the interests of an injured third-party who had no role in negotiating the insurance policy but who may be reliant upon it for appropriate compensation ' simply do not exist in first-party property claims.'
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?
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.
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.
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?