Equal Distribution
May 27, 2010
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.
Bad Law on Double Dipping
May 27, 2010
In 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.
Seller Beware: Delivery of Goods Post-Petition May Cost You
May 27, 2010
The Eleventh Circuit case <i>In re Delco Oil, Inc. (Marathon Petroleum Co., LLC v. Cohen)</i>, 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.
Portion of Expert's Lost Development Deals Damages Ruled Too Speculative
May 27, 2010
A 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 <i>The Maintenance Man</i> and <i>Men Cry in the Dark</i>.
'Probable Experience' in Business Interruption Claims
May 26, 2010
The 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.
The Foreign Corrupt Practices Act
May 26, 2010
Directors 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.
The Gulf Oil Spill: Considerations for Insurers
May 26, 2010
A 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.
The End of the World or a Brave New One?
May 26, 2010
Firms that succeed will have four distinct and unifying characteristics: a clear strategy; focused leadership; rewards systems aligned with their strategy; and a well-functioning (and efficient) administrative support structure. These are the firms that prospered in 2009 and will continue to prosper.There is
