News & Analysis as of

Indemnification

Australia's Banking Executive Accountability Regime: A Dangerous Bill

by Jones Day on

The Situation: On 22 September 2017, the Australian Government released a draft bill for the introduction of a Banking Executive Accountability Regime ("Proposed BEAR") allowing only five working days for submissions....more

Pleading Equitable vs. Contractual Indemnification

by Farrell Fritz, P.C. on

Can a claim for equitable or common-law indemnification co-exist with a claim for express or contractual indemnification? In Live Invest, Inc. v. Morgan Justice Emerson says “no”, when the claim seeks to recover for the...more

Global Private Equity Newsletter - Fall 2017 Edition: The Dangers of Undefined Fraud Carve-Outs and “Inelegant Drafting”

by Dechert LLP on

Crucial to any private equity seller is certainty: the certainty that a sale will be consummated at an agreed price and that any potential post-closing liability is fully understood in advance of distributing proceeds to...more

Podcast Episode 9 - Special Use Properties and the Uniform Relocation Assistance and Real Property Acquisition Policies Act of...

by Locke Lord LLP on

Locke Lord LLP’s Eminent Domain team hosts an original podcast series. In Episode 9, I share a recent presentation regarding valuation of special use properties. During that presentation, I also touched upon the little...more

Focus on Leasing: Commencement Date Issues

WHEN DOES A LEASE START AND WHEN DO THE TENANT’S OBLIGATIONS BEGIN? Answers to such questions may not be that simple. Contractual Obligations – Absent express language to the contrary, each party’s obligations under a...more

New Jersey Federal Court Extends Coverage of Merged Bank's D&O Liability Insurance Policy To Surviving Bank

by Shearman & Sterling LLP on

On September 18, 2017, Judge John Michael Vazquez of the U.S. District Court of New Jersey granted summary judgment in favor of plaintiffs BCB Bancorp, Inc. (“BCB”) and the former directors and officers of Pamrapo Bancorp,...more

Identifying and Addressing Environmental Issues in Petroleum Marketing Agreements (“Presentation”)

The Arkansas Oil Marketers Association Environmental Workshop was held on August 30th in Little Rock. I undertook a presentation titled: Identifying and Addressing Environmental Issues in Petroleum Marketing...more

Indemnities and insurance for directors and employees

by DLA Piper on

Company directors and employees must be aware of their rights and the requirements that relate to companies indemnifying, and providing insurance for their actions as directors or employees. Simple misunderstandings of the...more

Real Property & Title Insurance Update: Week Ending August 18 & 25, 2017

by Carlton Fields on

Foreclosure: general reservation of jurisdiction in a foreclosure judgment is very limited, and certainly does not give trial court jurisdiction to eliminate a lien more than three years after Final Judgment of Foreclosure...more

Federal Court Dismisses Employer’s Claims For Indemnification And Contribution Against Drug Testing Vendor After False Positive...

by Jackson Lewis P.C. on

A federal court in South Dakota granted a motion to strike and a motion to dismiss filed by the Equal Employment Opportunity Commission (“EEOC”) and the laboratory that conducted drug tests for the Defendant employer, holding...more

Proposed Class Accuses Deutsche Bank of Improperly Using Funds for Legal Defense

On August 4, 2017, Royal Park Investments SA/NV filed a proposed class action against Deutsche Bank National Trust Co. (“DBNTC“) in the U.S. District Court for the Southern District of New York, claiming that DBNTC—in its...more

Sixth Circuit Affirms Arbitrator’s Decision In Environmental Remediation Matter

by Carlton Fields on

The Sixth Circuit has affirmed an order confirming an arbitration award regarding indemnification obligations for environmental cleanup owed by William Farley toward the Eaton Corporation arising out of the 1986 sale of an...more

Second Circuit Follows Viking Pump Methodology to Calculate Total Insurance Liability for Environmental Cleanup Efforts Spanning...

On July 17, the U.S. Court of Appeals for the Second Circuit decided the case of Olin Corporation v. OneBeacon America Insurance Company, an environmental insurance recovery lawsuit. Olin Corporation has filed such lawsuits...more

There May Be Coverage for the Defense and Settlement of FTC Claims

A number of companies have been sued by the FTC in recent years, alleging, for example, that the company made claims regarding the product or service without adequate substantiation. Many of these companies are small private...more

Federal Court in Nebraska Denies Surety’s Request for Preliminary Injunction Requiring Principal to Post Collateral Security,...

by Pepper Hamilton LLP on

Allied World Specialty Ins. Co. v. Abat Lerew Constr., 2017 U.S. Dist. LEXIS 61794 (D. Neb. Apr. 24, 2017) - Abat Lerew Construction (“ALC”) entered into multiple construction projects which required it to obtain surety...more

Cardiac Arrest: A CEO’s Story of Criminal Jeopardy

by Zuckerman Spaeder LLP on

When an executive becomes embroiled in a dispute with an employer, the executive tends to take it personally. And when the executive’s conflict is with the government, the executive’s sense of outrage ratchets up even more....more

Real Property & Title Insurance Update: Week Ending May 19 & 26, 2017

by Carlton Fields on

Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more

Top Five Strategies for Managing Construction Risks

Construction is a risky business. During construction, claims for personal injury, property damage and economic losses are foreseeable and must be managed. After completion of construction, warranty claims and claims for...more

New Wave of Lehman Litigation Appears to Be Imminent

by Bilzin Sumberg on

Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc. (LBHI). It is a notice of a motion to approve a proposed settlement of...more

SB 496 – New California Law Affecting Indemnification Duties for Design Professionals

SB 496, approved by Governor Jerry Brown on April 28, 2017, amends California Civil Code Section 2782.8 to apply to all design service contracts entered into by design professionals on or after January 1, 2018. The amendment...more

So You’re Looking To Exit – What If I Breach A Representation Or Warranty?

by Fox Rothschild LLP on

As mentioned in the first post of this series, the goal of many entrepreneurs is to seek venture capital financing or ultimately sell their company in an “exit” merger or acquisition. Upon making representations and...more

New California Law Eases Indemnification Duties For Design Professionals

by Fox Rothschild LLP on

California has enacted a new law limiting indemnification obligations, including the duty and cost to defend, that can be imposed on design professionals with respect to all service contracts. The measure, which takes...more

Court Finds Fraud Carve Out Ambiguous in Stock Purchase Agreement

In EMSI Acquisition, Inc., v. Contrarian Funds, LLC et al, the Delaware Court of Chancery examined a fraud carve out from an indemnification cap and an action for confirmation of an auditors award on a purchase price...more

Defendants in Stock Purchase Indemnification Action Entitled to Advancement under Bylaws

In Davis et al v. EMSI Holding Co., the Delaware Court of Chancery held that officers and directors of an acquired company were entitled to advancement under the acquired Company’s by-laws for expenses incurred in defending...more

Lewis v. Clarke And The Failed Expedition To Secure Tribal Rights: SCOTUS Rules Against Tribal Employee Immunity

by Fisher Phillips on

The U.S. Supreme Court unanimously ruled yesterday that tribal sovereign immunity does not apply to employees who are sued in their individual capacities, even if the alleged wrongdoing occurs while the employee is acting...more

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