Mark D. Silverschotz
The new decision is significant because lawsuits against former (and current) officers and directors of debtors commonly are brought, as here, by trusts established under plans of reorganization. Because insurance policies often are the only viable source of recovery for the claims asserted in such lawsuits, this decision potentially opens a pathway to creditor recovery in other similar matters.
From a risk management perspective, festivals now run the gamut on potential liabilities that include collapsed stages, cancelled performances, severe weather, terrorism, alcohol liability, patron bodily harm and death, product liability and breach of contract claims. In essence, music festivals have become a microcosm of live entertainment-related liability exposures.
Contractual Allocation of Damage Risk Thwarts Insurer’s Subrogation Claim
Lacking Specifics, Lease Term Is Unenforceable
Lisa A. Weixelman and Amber J. Simon
Despite their seemingly lackluster nature, well-drafted insurance provisions in a contract between a landlord and tenant can be extremely important when it comes to mitigating potential exposure and protecting a shopping center’s assets.
The Rolling Stones Were Wrong — Time Isn’t on Your Side
Almost every business owner loathes worker’s compensation insurance — costs are high and can go up significantly in the event of a claim or multiple claims. Also, worker’s comp can be a cost center that is heavily impacted by fraud and abuse. If employers can control the number and severity of claims and lower worker’s comp costs, they can put the money to better use.
Janice G. Inman
The recent decision in Sears Roebuck & Co. and Kmart Corp. v. W/S Lebanon LLC seems timely in light of the fact that commercial landlords, tenants and their insurance providers are grappling with the problems caused by the extreme wind and rain of hurricanes. Here's what happened in that case.
Evan H. Krinick
Over nearly eight years as U.S. Attorney for the Southern District of New York, Preet Bharara became recognized as a powerful prosecutor in many areas, including government corruption and white-collar crime. Another subject for which he certainly deserves mention is his strong record helping to fight insurance fraud in New York.
Collin J. Hite
Well-known restaurant chain, P.F. Chang's China Bistro, recently sustained a significant hit to its cyberinsurance coverage. The federal court's opinion in the case serves as a lesson to policyholders regarding cyberinsurance in a rapidly evolving market. Due diligence is the name of the game when placing such insurance in order to understand the scope of coverage.