Indemnification

News & Analysis as of

Key considerations for representation and warranty insurance

The allocation of risk through representations and warranties and the accompanying indemnification obligations is a primary source of contention in almost every private merger and acquisition transaction. Buyers aim to...more

Contractual Indemnification

Aluma Systems Concrete Construction of California v. Nibbi Bros. Inc., et al. - Court of Appeal, First Appellate District (August 16, 2016) - This case considered the applicability of a contract’s indemnification...more

Nevada’s Secretary of State Concatenates Veil Piercing, Indemnification And Exculpation

The Nevada Secretary of State’s website unabashedly proclaims “Nevada is the second most popular commercial filing jurisdiction in the country, due largely to our favorable business laws and low-tax environment.” The website...more

Advancement Rights of Present and Future Officers Under LLC Agreement

Advancement and indemnification rights are vital in attracting the best and brightest individuals to serve as managers of Delaware entities. Those rights are meant to provide managers of Delaware entities comfort when...more

Tenth Circuit Drills Down Into Roots Of Moral Hazard, Comes Up Dry

Moral hazard (one of this blog’s preoccupations) usually comes up in disputes over the scope of coverage under an insurance policy. But state legislatures often address it, too—for example, by imposing limits on agreements...more

Banks reflect on guarantees, rejoice on fees

National Australia Bank Ltd v Rose - On 21 July 2016, the Victorian Court of Appeal confirmed that a guarantee and indemnity provided by an individual was invalid on the basis that NAB had not complied with relevant...more

Queensland WorkCover amendments to render contractual indemnities void

It is a serious matter to interfere with the rights of parties to agree between themselves to whatever contractual terms they chose. There is currently a Bill before the Queensland parliament [1] proposing a significant...more

Third Circuit Slams The Door On Coverage For The Cost of Defending Excluded Claims—Then Leaves It Wide Open

An insured corporation settles a class action, and a portion of the settlement pays the plaintiffs’ attorneys. Payments to the class are excluded from coverage under the terms of the corporation’s liability policy. But can...more

7 Key Risks for Contractors in Transit Procurements

Your company has reviewed an RFP issued by a municipal authority to select a firm to operate and maintain transit services, and the business team has signed off on the economics of submitting a bid. As your company’s counsel,...more

New York and North Carolina Take a Narrow Approach to Common Interest Doctrine

Brief Summary - The "common interest doctrine" generally protects attorney-client communications, even if such communications are disclosed to a third party, as long as the third party shares a common legal interest with...more

Three Point Shot - June 2016

Showtime and Top Rank Slug It out over "Fight of the Century" - Who said boxing was dead? Fight fans still bitter over the May 2015 Floyd Mayweather–Manny Pacquiao bout that was far more mega-bore than mega-brawl...more

Under Construction - June 2016

Welcome to the June 2016 edition of our Under Construction newsletter. Hope you are staying cool this summer. Are you legally operating your drone on the construction site? In our Winter 2015 Under Construction...more

Guarantees and Suretyships – Can you ever really be sure of your surety?

Recent revisions to the Russian Civil Code broaden the range of entities able to issue Russian law independent guarantees and introduce the concept of indemnities. These developments further complicate the decision on the...more

How to Evaluate a Credit Monitoring Service

Organizations are not, generally, required to offer services to consumers whose information was involved in a breach. Nonetheless, many organizations choose to offer credit reports (i.e., a list of the open credit accounts...more

Drafting Indemnification Provisions to Address Common Issues

Corporate bylaws and operating agreements often contain provisions that provide for indemnification to directors, officers and in some cases employees and agents who become parties to litigation, arbitration or investigations...more

Owners and Developers Beware: Federal Law Preempts Your Remedies Against Design Professionals for ADA Violations

Recent years have seen a proliferation of lawsuits against building owners and businesses for violation of the accessibility requirements of the Americans with Disabilities Act (ADA). Not only restaurants, but also hotels,...more

New York’s Highest Court Rules in Favor of “All Sums” and Vertical Attachment in Certified Question from Delaware Supreme Court

In the recent decision of Viking Pump, Inc., et al. v. TIG Insurance Co., et al., 2016 N.Y. LEXIS 1018 (N.Y. May 3, 2016), the New York Court of Appeals (New York’s highest court), on questions certified by the Delaware...more

Colorado Supreme Court: Insurers Need Not Show Prejudice to Enforce No-Voluntary-Payments Provision of Insurance Policy

On April 25, 2016, the Colorado Supreme Court overturned a decision by the Colorado Court of Appeals and Colorado District Court in what is believed to be a seminal victory for insurers. In Travelers Prop. Cas. Co. of Am. v....more

Late notice to insurer costs Maryland bank millions

Insurance law generally imposes on a policyholder the duty to give timely notice of claims to its insurance company. Sometimes, because of forgetfulness, ignorance, neglect, or a number of other reasons, companies fail to...more

Are Consent Judgments in Colorado Dead? Colorado Strictly Enforces “No Voluntary Payments” Clause

On Monday, April 25, 2016, the Colorado Supreme Court issued its decision in Travelers Prop. Cas. Co. v. Stresscon Co., No. 13SC815 (Colo. Apr. 25, 2016), holding that an insurer does not need to show prejudice to enforce a...more

Colorado Supreme Court Holds That An Insurer Need Not Show Prejudice If Denying Coverage For A Settlement Prior to Notice of Claim

On Monday, April 25, 2016, the Supreme Court of Colorado ruled that policyholders could not be indemnified for a settlement incurred before providing their insurers of notice of the claim—even if the insurer did not suffer...more

Changes to IRS Partnership and LLC Audit Rules

Recent history has seen a proliferation of health care organizations—including tax-exempt organizations, for-profit companies, and physician practice groups—that have joined together to take advantage of different synergies...more

Delaware Law Updates - Delaware law on advancement of fees incurred by former officers and directors

In a recent Delaware Court of Chancery case - Hyatt v. Al Jazeera America Holdings II, LLC, C.A. No. 11465-VCG - Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery took on a “familiar” issue with a “twist”:...more

FHA Announces Final Revisions to Loan-Level Certification Form

On March 15, 2016, the Federal Housing Administration (FHA) announced final changes to its loan-level certification form, 92900-A HUD/VA Addendum to the Uniform Residential Loan Application. The announcement represents...more

Top 5 Provisions for Your Staffing Contracts

In today's economy, organizations are increasingly looking to nontraditional sources of labor, including use of leased, outsourced, and other staffing arrangements that involve individuals who may not be on the organization's...more

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