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Underground Storage Tanks
There are over a half-million underground storage tanks in the United States containing petroleum or other substances that are subject to federal regulation. This is in addition to the countless underground and above-ground tanks storing heating oil or other substances that are not subject to federal oversight. These tanks have been the focus of major federal and state environmental legislation over the last three decades. Among other things, this legislation has given rise to financial responsibility requirements that continue to drive the market for insurance for certain classes of tanks.
The patchwork of federal and state legislation aimed at regulating storage tanks, and what happens in the event of a release, is far too broad a topic to address in a single article. Rather than attempting to discuss each of the relevant issues, this article will provide a brief overview of the federal regulatory system and how this system affects the insurance market. This article also explores some of the issues that often arise in the context of insurance coverage for underground storage tank releases, both for dedicated tank policies and under homeowners insurance.
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.
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?
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.