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Last month in Part One of this article, available at http://bit.ly/1m8nbYs, we discussed the fact that most insurance policies contain anti-assignment provisions, purporting to prohibit the assignment of interests in the policy without the insurer's consent. Insurers rarely offer their consent to assignments. Thus, whether a policy's anti-assignment clause will void a transfer of insurance proceeds or coverage rights, by contract or operation of law, usually requires an analysis of whether the predecessor corporation is an insured under the policy; whether the predecessor corporation still exists; whether the successor corporation succeeded to the predecessor's liabilities and insurance assets by operation of law; whether the coverage rights or policies were transferred by agreement; and, whether the claim for which the successor seeks coverage constitutes a “chose in action” at the time of the transfer. Most jurisdictions that have considered these matters agree that after a loss, an insurance policy's consent-to-assignment clause is unenforceable. In fact, California, which had until recently been in the minority on this issue, now has corrected course.
We went on to discuss case law in California and in other states; other jurisdictions do not always have the same rulings.
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.
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.
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?
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.
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?