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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.
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.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
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.