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Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Insured May Bear the Consequences of Insurer’s Negligence

For decades, California courts have mandated that an insurer is obligated to accept a “reasonable” settlement demand within policy limits on behalf of its insured. If it fails to do so, it is liable for the entire judgment,...more

Top 10 Things Defense Lawyers Need to Know About Lack of Good Faith Claims

by Pessin Katz Law, P.A. on

By now, every Maryland defense lawyer knows that there is a cause of action that can be leveled against insurers for lack of good faith. Most even know that this cause of action is based on Md. Code Ann., Cts. & Jud. Proc. §...more

Eleventh Circuit Deems Voluntary Dismissal of a Coverage Action Sufficient to Award Attorneys’ Fees to a Policyholder as the...

by Carlton Fields on

In a recent unpublished opinion, the Eleventh Circuit issued a decision that should serve as a warning to insurers to be sure to resolve all issues before dismissing a coverage action, particularly when involved in the...more

Latest Ransomware Attack: Is Your Arbitration Cyber-ready?

by Latham & Watkins LLP on

The latest global ‘WannaCry’ attack has again brought to the fore the need for sovereign and private parties to have in place adequate cyber-security measures and response plans to deal with cyber-attacks, including in the...more

The SAP v. Diageo decision – a realistic approach to indirect access?

by Dentons on

Following the high court decision in the case of SAP UK Limited (SAP) v. Diageo Great Britain Ltd (Diageo), routine software arrangements many organisations have in place could become subject to significant additional costs....more

CFPB Settlements: It’s Not Over Until It’s Over

by Foley & Lardner LLP on

On April 26, 2017, the Consumer Financial Protection Bureau (“CFPB”) broke new ground by imposing a fine – in excess of a million dollars – against a consumer financial services company for allegedly violating the terms of...more

Law Firm Sues Insurer Over $700K in Lost Billings Due to Ransomware Attack: eDiscovery Trends

by CloudNine on

A small Rhode Island law firm has filed a lawsuit against its insurance company after the insurer refused to pay $700,000 in lost billings following a ransomware attack on the firm that locked down the firm’s computer files...more

When You Settle A Case, Don't "Over-Release" The Defendant

by Brooks Pierce on

The parties to Security Camera Warehouse, Inc. v. Bowman, 2017 NCBC 38, had been adverse to each other in a previous lawsuit (not in the Business Court), which they settled. Security Camera released Bowman, one of its former...more

Creditor Lacks Standing To Bring Derivative Suit against LLC

by Fox Rothschild LLP on

The recent decision of Trusa v. Nepo, C.A. No. 12071-VCMR (Del. Ch. April 13, 2017), stands for the proposition that a creditor lacks standing to assert a derivative claim against a limited liability company. In Trusa, the...more

So, ISDA Counterparties Don’t Have to Deal in Good Faith, or Do They?

by Dechert LLP on

The implied contractual duty of good faith and fair dealing is well enshrined in the common law, including in New York and every jurisdiction in the U.S. Since, by its nature, however, the duty is not susceptible of precise...more

See No Evil, Hear No Evil: Third Circuit Finds Employer Not Liable for Tortious Interference Claim Where Employer had No Knowledge...

A few months ago, a three-member Third Circuit appellate panel in Acclaim Systems, Inc. v. Infosys, upheld a district court decision, which dismissed tortious interference claims against an employer for engaging with four...more

Fifth Circuit Holds That Spearin-like Provision of Louisiana Civil Code Bars Negligent Failure to Warn Claim

by Pepper Hamilton LLP on

LaShip, LLC v. Hayward Baker, Inc., 2017 U.S. App. LEXIS 3694 (5th Cir. Mar. 1, 2017) - Beginning in 2007, LaShip, LLC (“LaShip”) undertook the construction of a large shipbuilding facility in Houma, Louisiana (the...more

Courts Continue to Struggle with Jurisdiction by Consent

by King & Spalding on

Introduction - On January 26, 2017, the U.S. District Court for the Southern District of New York (S.D.N.Y.) decided Famular v. Whirlpool Corp., a case addressing the circumstances in which an out-of-state corporation may...more

Arbitration Clauses Extending to Non-Signatory Affiliates: Are They Enforceable?

A recent decision of the New Jersey Court of Appeals considered the enforceability of arbitration agreements by non-signatories. In Foti v. Toyota Motor Sales, U.S.A., Inc., the plaintiff filed a putative class action...more

Debt Dialogue: April 2017 - Creditor Barred from Bringing a Derivative Action Against an Insolvent Delaware Limited Liability...

In a recent ruling, Trusa v. Nepo (Del. Ch. April 13, 2017), consistent with prior case law, Vice Chancellor Montgomery-Reeves of the Delaware Chancery Court held that a creditor cannot bring a derivative action against a...more

Supreme Court to Hear Case on Scope of Section 546(e)'s Safe Harbor

by Jones Day on

On May 1, 2017, the U.S. Supreme Court agreed to hear Merit Management Group v. FTI Consulting, No. 16-784, on appeal from the U.S. Court of Appeals from the Seventh Circuit. The Court's decision could resolve a circuit split...more

Court Of Chancery Explains The “Known Looter” Theory For Controllers

by Morris James LLP on

This is an interesting decision because it examines an intriguing legal theory for holding a controlling stockholder liable in a sale: the “known looter” theory. Generally speaking, controllers can sell their stock to whoever...more

Two Commercial Division Rulings Put Payday Further Out of Reach for Russian Businessman

Justice Anil Singh of the New York Commercial Division recently issued two decisions related to the long-running litigation between Russian businessmen Alexander Gliklad and Michael Cherney. ...more

Suit Limitation Period In Standard Flood Insurance Policy Is Not Tolled By Filing In State Court: Hurricane Irene Claim Dismissed...

The terms and conditions of the Standard Flood Insurance Policy (“SFIP”) are specified by regulations promulgated under the National Flood Insurance Act (“NFIA”). One of the terms in the SFIP provides that the insured cannot...more

Chris Lazarini Analyzes Enforcement of Exculpatory Clauses

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini analyzed the court's enforcement of an exculpatory clause in the context of a Trading Advisory Agreement. Where parties elect to include exculpatory clauses in their contracts, such...more

Suing on Behalf of People You’re Suing Can Sink a Derivative Lawsuit — Especially If You Have a Litigious Nature

by Farrell Fritz, P.C. on

The U.S. reportedly has the world’s highest number of lawyers per capita (1 for every 300 people) and the 5th highest number of lawsuits per capita (74.5 for every 1,000 people, topped only by Germany, Sweden, Israel, and...more

Paris, the eternal city for arbitration?

by DLA Piper on

The first edition of the Paris Arbitration Week commences on April 24.1 Organizers have highlighted that the event “is a great occasion to celebrate the repeated trust the actors of international arbitration have for Paris”.2...more

Court Of Chancery Explains Fiduciary Duty Of Preferred Stockholders’ Directors

by Morris James LLP on

This decision is a primer on most of the major issues in Delaware corporate law. However, what it is most likely to be remembered for is its explanation of the duties that directors have to the enterprise as a whole, even...more

These Class Action Lawyers Made Their Fees The Old-Fashioned Way. They Earned Them!

by Brooks Pierce on

It's not very often that I see a fee application in a settled class action in the Business Court that doesn't strike me as requesting approval of an overpayment for a less than successful result. Those are most often in the...more

Court Of Chancery Limits Creditor Standing

by Morris James LLP on

This decision holds that a creditor lacks standing to bring breach of fiduciary duty claims arising out of the management of an LLC. Of course, creditors are better served by drafting the loan documents to protect their...more

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