In last month's issue, we discussed a decision in in which a Supreme Court judge in Manhattan dismissed a divorced man's suit to recover from his ex-wife half of what he lost by taking investments in Bernard Madoff's Ponzi scheme in their divorce settlement. The discussion concludes herein.
May 27, 2010Elliott ScheinbergIn two recent Second Department cases decided within 30 days of each other, the facts appear similar, yet one case gets the law right, the other gets it completely wrong. While bad law was corrected by the former, it was perpetuated by the latter.
May 27, 2010Lee RosenbergThe Eleventh Circuit case In re Delco Oil, Inc. (Marathon Petroleum Co., LLC v. Cohen), serves as an important reminder for suppliers to monitor a customer's bankruptcy filing and to confirm the rules for doing business before delivering goods to a debtor.
May 27, 2010Ann Marie Uetz and Jennifer HayesThe public outcry driving financial reform may unwittingly create risk retention levels in securitization transactions that will ultimately affect main street's credit costs and severely limit access to credit.
May 27, 2010David Galainena, Patrick Hardiman, Ronald Jacobson and Michael MullinsA magistrate for the U.S. District Court for the Southern District of Texas has excluded a significant portion of an expert's damages testimony in a suit by book author Michael Baisden alleging that the defendants exceeded the scope of a license to produce stageplays of Baisden's novels The Maintenance Man and Men Cry in the Dark.
May 27, 2010Stan SoocherThe U.S. Court of Appeals for the Fifth Circuit recently weighed in on the proper measurement of business interruption claims, particularly those following a catastrophic event that affects an entire region or industry.
May 26, 2010Catherine A. Mondell and Seth C. HarringtonDirectors and officers are exposed to personal loss under the FCPA because not only does the FCPA expressly prohibit corporate indemnification, but also there are several D&O policy provisions that may serve to bar coverage for FCPA-assessed fines and penalties.
May 26, 2010Nancy D. Adams and Alec J. ZadekA large number of lawsuits already have been filed against the entities associated with the Deepwater Horizon Oil Rig, many of which raise interesting coverage issues, particularly with respect to specialty environmental coverages and first-party business interruption and damage claims. Even more significant insurance exposures may be posed in the future, however, as new parties are joined to the litigation and general liability policies are tested in response to third-party claims for bodily injury and property damage.
May 26, 2010Laura A. Foggan and Benjamin Theisman
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