Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Director Liability on the Table
Two recent court decisions could have an impact on the future liability of directors at public and private companies.
In a federal court in New York, Marshall S. Cogan, former CEO and chairman of Trace International Holdings, a privately held company that is now bankrupt, and several of Trace's board members were recently found liable for more than $40 million in damages. Pereira v. Cogan, No. 00 Civ. 619 (S.D.N.Y.).
In a rare ruling for either a public or private company, Senior Judge Robert W. Sweet, after a bench trial in May, found board members liable for breaching their fiduciary duties of loyalty and care through their inaction by allowing, among other things, Cogan to unilaterally raise his salary and take loans for himself. Sweet also found that the directors never took steps to prevent Cogan from liquidating Trace, and by this inaction, failed to fulfill their roles as monitors of the company.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.