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The Allocated Share Set-Off Rule: New York Enters the Debate
Long-tail environmental and toxic tort claims have spawned decades of hard-fought insurance coverage litigation. As the litigation has matured, judges have been forced to fashion rules that allow the courts and litigants to navigate between the desire for coverage, the reality of insurance contract terms, the dictates of public policy, respect for precedent, and the requirement that judicial solutions be practical.
The “allocated share set-off rule” is an excellent example of the judiciary working through these conflicting goals. Stated generally, the rule provides that where numerous liability insurance policies are triggered by a “long-tail” loss or losses, and the insured settles with some, but not all, of its insurers, the non-settling insurers may set off any portion of the overall liability properly allocable to the settled insurers' policies. Critically, this right applies pre-payment, i.e., the non-settling insurers need not make payment and then attempt to recoup the amounts allocable to settled policies; instead, they may exercise their set-off right prior to any payment.
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.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.