In The Marketplace
December 30, 2004
Highlights of the latest equipment leasing news from around the country.
Investigating Fraudulent Claims: The Role of SIU
December 30, 2004
Previously we have addressed the issues of fraud at the inception of an insurance claim, a carrier's analysis of fraudulent claims and the use of forensic experts to investigate and defend claims. This article will focus on the role of the carrier's Special Investigation Unit ("SIU") in investigating and defending against fraudulent insurance claims and the role of SIU counsel in the investigative process.
International Arbitration and State Regulation: The Interaction Between the McCarran-Ferguson Act and the New York Convention
December 30, 2004
Direct insurance contracts, like other commercial agreements, can be structured to provide for arbitration as the chosen means of dispute resolution. <i>See, e.g.,</i> Michael Ha, <i>Arbitration Boosts Efficiency: Alliance,</i> National Underwriter, March 17, 2003. Despite the perceived efficiencies of arbitration, some groups have pushed for widespread regulation of the use of arbitration clauses in commercial insurance contracts. <i>See Mandatory Arbitration on NAIC Agenda,</i> Insurance Chronicle, Feb. 3, 2003. Thus far, those opposed to arbitration clauses in insurance contracts have focused their efforts on persuading individual state regulators to restrict or ban the inclusion of mandatory arbitration clauses. <i>See id.</i>
Stop! Don't Take That Expert's Deposition
December 30, 2004
FRCP 26(a)(2)(B) governing the disclosure of expert witnesses in federal court was adopted in 1993 with the hope that "the length of the deposition of such experts should be reduced, and in many cases the report may eliminate the need for a deposition" altogether. Advisory Committee Notes, Fed. R. Civ. Pro., Rule 26, 28 U.S.C.A. (1993).
The Leasing Hotline
December 30, 2004
Highlights of the latest commercial leasing cases from around the country.
De-Malling: The New Alternative
December 30, 2004
In today's complex real estate world, shopping center owners are finding that redeveloping a shopping center may not be enough to remain competitive. Well-known retail analysts are commenting that consumers are tired of the mall concept that forces someone to wade through a department store to access an enclosed mall, when all they are really looking for is the quick purchase of a pair of shoes. Analysts, including PricewaterhouseCoopers and others, have concluded that as many as one-third of the nation's 1200 malls are obsolete, or nearly so. After decades of both owner and retailer consolidation, the 10 largest mall real estate investment trusts now control approximately 47% of all malls. About 20% of these are "D" level malls which should probably be de-malled. The Congress for the New Urbanism has called many of these lower-performing enclosed regional malls, "greyfields." This is a comparison to "brownfields," the term commonly used to refer to abandoned and partially contaminated commercial facilities.
Constructing and Improving Space Protect Against Cost Surprises and Hidden Lease Issues
December 30, 2004
Many commercial office leases fail to identify or delineate all costs a tenant may incur in the initial build-out or subsequent alteration of its office space. Such costs, if not understood, negotiated upfront and documented in the lease agreement, will substantially reduce the actual dollars a tenant has available for its initial leasehold improvements from the landlord-provided tenant allowance and will increase the cost of alterations during the lease term. While not expressed in purely face-value economics, there are also many other issues which, if not addressed appropriately in the lease, will cost the tenant additional time and money. This article details some of these costs and issues and suggests ways to address them in your lease.
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