M&As – Novation and Recertification
It’s not often that the U.S. Supreme Court weighs in on insurance issues. That’s because the McCarran-Ferguson Act gives states the primary authority to regulate the business of insurance. So when the Supreme Court speaks on...more
Welcome to the first edition of The Leisure Law Insider, brought to you by Akerman's Chambers ranked Hospitality Sector Team! It will be released quarterly, covering the latest news and developments in leisure and hospitality...more
In a recent unanimous decision, a three-judge panel of the Arkansas Court of Appeals held that Section 916 of the Longshore and Harbor Workers’ Compensation Act (LHWCA) bars the transfer of LHWCA structured settlement annuity...more
Prospective buyers should prepare to take advantage of opportunities to acquire distressed businesses, as we are likely to see an uptick in distressed M&A soon. Prospective buyers seeking first-mover advantages should act...more
Over the past twenty years, Louisiana has been hit by numerous natural disasters, each of which brings a new wave of unlicensed and unqualified home improvement contractors to the state. During the 2022 legislative session,...more
Pepsi-Cola Metro. Bottling Co. v. Emp’rs Ins. Co., 2022 Wisc. App. LEXIS 598 (Wisc. Ct. App. July 8, 2022) - Wisconsin Court of Appeals (in a divided decision) holds that a “post-loss” assignment of rights under a...more
As we pass the midpoint of 2022 and the world expresses a collective sigh of relief that the worst of the COVID-19 pandemic seems to be behind us, a perfect storm of extraordinary factors is creating conditions for financial...more
In Certain Underwriters at Lloyd’s v. AT&T Corp.,[1] Justice Cohen of the New York County Commercial Division Court granted a motion for partial summary judgment and determined that Nokia, through its predecessor Lucent, had...more
During the course of any acquisition of a renewable energy project, the parties may be required to obtain consents from certain of the counterparties to the project contracts. This will be the case if a project contract...more
First Department Finds Exterior Work Over Two Stories Exclusion Did Not Apply To Accident From Work On Lower Floors- Adelphi University hired a general contractor for a construction project to build, from the ground up, a...more
Parties to a contract generally can include in their agreement a provision preventing assignment of the agreement’s rights and remedies without the consent of both parties. ...more
Commercial landlords often rely on anti-assignment provisions to restrict the ability of tenants to assign their interest in a lease to a third party. Such provisions often restrict assignments by “operation of law,” which...more
The Ninth Circuit significantly limited insurers' ability to rely on anti-assignment provisions in ERISA health plans in Martin Luther King, Jr. Community Hospital v. Community Insurance Company dba Anthem Blue Cross Blue...more
A unique aspect of doing business with the federal government is the built-in limits on a contractor’s right to assign the contract or the right to payment under the contract to third parties. The Anti-Assignment Act (41...more
Contract review is one of the most onerous (and important) processes in any due diligence process when buying or selling a company. We all know that those contracts are the backbone of many businesses- they document the...more
Recently, a three-judge panel in the Court of Appeals for the Ninth Circuit overturned a district court dismissal of an out-of-network provider’s claims against Blue Cross and Blue Shield of Illinois (“BCBSIL”). The unanimous...more
Anti-assignment clauses in ERISA health plans are useful to plan sponsors in fending off lawsuits by out-of-network providers. Federal courts have consistently upheld anti-assignment provisions contained in the plan document...more
Welcome to CICR’s annual review of insurance cases. Here, we spotlight decisions from the last year that you should know about — and a few pending cases to watch. As our picks for “Cases to Know” (below) indicate,...more
MTA Royalty Corp. v. Compania Minera Pangea, S.A. DE C.V., C.A. No. N19C-11-228 AML CCLD (Del. Super. Sept. 16, 2020) - Plaintiff’s predecessor-in-interest conveyed mineral rights to Defendant. Under the agreement,...more
Nonqualified deferred compensation plans often include anti-assignment language prohibiting a plan participant from assigning benefits to anyone. Because top-hat plans are exempt from most aspects of ERISA including the...more
In Cal. Spine & Neurosurgery Inst. v. Blue Cross of Cal., 2020 U.S. App. LEXIS 20533 (9th Cir. June 20, 2020), the Ninth Circuit held that a surgical provider's complaint sufficiently alleged that Blue Cross of California...more
Proximate cause is a necessary element in tort law, but also applies to claims of breach of commercial contract. In a recent decision by Justice Barry R. Ostrager in MUFG Union Bank, N.A. v. Axos Bank et al., No....more
This two-part blog series discusses why buyers looking to make strategic purchases in the health care industry might want to take advantage of the Bankruptcy Code Section 363 sale process (363 Sale) and the pros and cons of...more
Section 365(f) of the Bankruptcy Code allows the assignment of leases and executory contracts notwithstanding any provision in the contract or the applicable law that “prohibits, restricts, or conditions the assignment….” So,...more