Saint Vincent Catholic Medical Centers of New York and its debtor-affiliates (collectively SVCMC) filed Chapter 11 cases in 2010 in the Southern District of New York. This article addresses some of the case's complexities.
The U.S. Court of Appeals for the Ninth Circuit has issued an amended decision to retract <i>Du v. Allstate Ins. Co. et al.</i>, in which the court opined that, under California law, an insurer has a duty to promptly effectuate settlement when liability of its insured is reasonably clear, even absent a settlement demand by the claimant.
Businesses that have suffered losses because of Superstorm Sandy may have substantial financial protection through their insurance policies. This article provides the ABC's of maximizing coverage.
Law firm management should ensure that partners and senior associates (potential partners) understand the basic concepts pertaining to partners' capital accounts.
The expectations of today's clients cannot be met by the trappings of traditional law practices. Considering the way clients now expect and demand that their lawyers engage with them, using project management is a perfect way to support the process.
As the economic outlook has continued to remain uncertain and the inability of law firms to reduce or hold the line on expenses becomes more apparent, law firms are increasingly looking at oursourcing.
Opening the door to a potentially historic step in the nation's gay rights movement, the U.S. Supreme Court on Nov. 7 agreed to decide two constitutional challenges involving same-sex marriage.
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
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.
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.
