Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Indemnifying Proposed Financial Adviser Held 'Reasonable'
The Third Circuit has held that a Chapter 11 debtor's retention agreement with a proposed financial adviser, which indemnified the adviser from liability for ordinary negligence, was a 'reasonable' condition for the employment of a professional pursuant to Section 328(a) of the Bankruptcy Code. United Artists Theatre Co. v. Walton, No. 01-1351 (Jan. 9, 2003).
The United States Trustee had objected to a provision in the debtor's engagement letter with its proposed financial adviser that sought to indemnify the adviser for claims of negligence related to its services, except for 'any losses that are finally judicially determined to have resulted from the gross negligence, bad faith, willful malfeasance, or reckless disregard of its obligations or duties.' The Trustee argued that this agreement was unreasonable, and in violation of Sections 327(a) and 328(a) of the Bankruptcy Code. The district court disagreed and approved the application.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
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.
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.
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.
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?