News & Analysis as of

Limited Liability

Proskauer Rose LLP

Proskauer's Hedge Start: Seed Investments

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Seed investment deals between a new hedge fund manager and a seed investor can be a key first step to launching a first fund. In a typical seed investment deal, the seed investor commits to make a founding investment in a new...more

Latham & Watkins LLP

Wyoming Adopts New Legal Structure for DAOs

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The legislation allows decentralized autonomous organizations to gain legal entity status and operate within the bounds of applicable law. ...more

Mayer Brown

Legal Developments in Construction Law: February 2024

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1. "Smash & grab" claim + true value claim = one adjudication dispute, or two? A subcontractor resisting enforcement of an adjudication award claimed that the adjudicator had exceeded their jurisdiction....more

Rivkin Radler LLP

Shareholder-Transferee Liability for a Corporation’s Income Tax

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Would you be surprised to learn that most shareholders of closely held corporations, and especially those with minority or merely passive interests, believe they cannot be held responsible for the tax obligations of their...more

Allen Matkins

Court Of Appeal Discusses But Declines To Decide Whether RULLCA Or The Beverly-Killea Act Applies

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Eleven years ago, I foretold potential issues arising from California's repeal of the Beverly-Killea Limited Liability Company Act in favor the California Revised Uniform Limited Liability Company Act.   Since that gloomy...more

Walkers

Jersey LLCs – key points for US managers and investors

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Limited Liability Companies (“LLC”) are a familiar structuring tool for US managers and investors, and the introduction of the Jersey LLC is part of a strategy by the jurisdiction to increase its appeal to the US market. ...more

Jaburg Wilk

Not My Monkey, Not My Circus

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I recently heard my wife say “not my monkey, not my circus” and it struck me how important a concept it is in all aspects of life. It’s a colloquial phrase that conveys the idea that one is not responsible for the problems...more

Winstead PC

Limitation of Liability Clauses in Business Contracts: Limiting Potential Damages and Avoiding Pitfalls - Presentation

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David F. Johnson co-presented with Zachary S. Davis from Stoel Rives LLP, in Portland, Oregon, on “Limitation of Liability Clauses in Business Contracts: Limiting Potential Damages and Avoiding Pitfalls” on January 31, 2023,...more

Conyers

The Boundaries, and Benefits, of ‘Gross Negligence’ Under Cayman Islands Law

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For many years, it has been standard industry practice in the Cayman Islands, as in similar jurisdictions, for company directors, corporate service providers, and professional service providers, to apportion risk between...more

Lowenstein Sandler LLP

Harvard’s $15M Mistake: Failure to Adhere to Technical Notice Requirements in Insurance Policy May Lead to Significant Forfeiture

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The widely publicized U.S. Supreme Court case addressing Harvard University’s (Harvard) admissions practices not only concerns a significant constitutional issue but also serves as a cautionary tale for businesses and...more

King & Spalding

District of Oregon Limits Lender Liability Based on Alleged Control Absent a “Special Relationship”

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On June 29, 2022, the U.S. District Court for the District of Oregon dismissed a bakery’s breach-of-fiduciary duty and other lender-based claims against a strategic investor and lender. In connection with an attempted...more

BakerHostetler

Governor of Indiana Signs New Carbon Capture Bill

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​​​​​​​Indiana is the most recent state to build out a regulatory structure in anticipation of significant carbon capture, utilization and sequestration (CCUS) project deployment. Last week, Governor Eric Holcomb signed into...more

Lowenstein Sandler LLP

Exculpation Ruling Shows Danger Of Overbroad Clauses

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It is common that accountants seek to limit their liability to a client in the event of malpractice. Typically, in the retention agreement, the liability is limited to the amount of fees paid by the client to the accounting...more

Dechert LLP

Once in a Lifetime? -- The DOL Issues Interim Final Rules on Lifetime Income

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The U.S. Department of Labor (“DOL”) on August 18, 2020, issued an interim final regulation (the “Regulation”) requiring the inclusion of lifetime income illustrations in the benefit statements provided to participants in...more

White & Case LLP

Returning to Work: COVID-19, Workers' Compensation, and Employee/Consultant Waivers

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As states allow businesses to reopen and employers begin returning to the workplace, questions arise regarding the potential liability of employers if employees and consultants contract COVID-19 in the workplace—which might...more

Baker Donelson

Potential Provider Protections: How the Proposed SAFE TO WORK Act Impacts Liability Claims Against Health Care Providers

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On July 27, 2020, Senate Republicans unveiled the "Safeguarding America's Frontline Employees To Offer Work Opportunities Required to Kickstart the Economy Act," or the "SAFE TO WORK Act" (the Act).1 The proposed legislation...more

Skadden, Arps, Slate, Meagher & Flom LLP

Liability Protections in Coronavirus Relief Legislation

Yesterday, Sen. John Cornyn, R-Texas, joined by Senate Majority Leader Mitch McConnell, R.-Ky., introduced the SAFE TO WORK Act, which would provide substantial and comprehensive liability protection from coronavirus-related...more

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