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The Bankruptcy Hotline
D&O Policy Is Property of the Estate
The Bankruptcy Court for the Eastern District of Pennsylvania has ruled that the proceeds of a directors and officers liability insurance policy are property of a Chapter 11 debtor's bankruptcy estate. Under the policy, the debtor corporation was indemnified for losses resulting stemming from securities claims, and here, a creditor was suing the debtor for violations of securities laws. The bankruptcy court found that because the debtor was covered for this type of claim, the trustee, as successor to the debtor, could properly claim an interest in the proceeds of the policy. Morris v. National Union Fire Insurance Co. of Pittsburgh (In re Eastwind Group Inc.), No. 00-33372 (Jan. 14, 2004).
Judgment for Patent Infringement Nondischargeable
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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.
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.
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?