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Case Briefs
Excess Insurer Not Obligated to Share in Defense Costs
In Lexington Insurance Co. v. General Accident Insurance Co. of America, ___ F.3d ___; 2003 WL 21782276 (1st Cir. 2003), the First Circuit considered the obligation of an excess liability insurer to contribute to the cost of defending an underlying insured. The insured was a law firm that placed a professional responsibility insurance contract with the primary insurer with a $10 million limit of liability and also placed coverage with excess insurers for liability exceeding the $10 million primary layer. The insured was later implicated in a securities fraud suit and the primary insurer paid $5.5 million toward defense costs. The primary insurer then demanded that the excess insurers share pro rata in these defense costs. While the primary insurer reached an accord with most of the excess insurers, it was unable to reach agreement with the first excess layer insurer.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.