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Duty to Defend: Johnson Controls' Attempt to Turn Excess Insurance into Primary Insurance
In 1989, Milwaukee-based manufacturer Johnson Controls, Inc. initiated an insurance coverage action against 36 insurance companies seeking defense and coverage for potential environmental liability at various sites located around the country. This suit, which is still ongoing today, has generated a number of significant (and controversial) coverage opinions.
Most recently, in 2010, the Supreme Court of Wisconsin held that an indemnity-only umbrella excess liability policy contained a duty to defend by virtue of “follow form” policy language in the excess liability policy. The Wisconsin Supreme Court further held that the excess carrier's duty to defend was not conditioned upon exhaustion of the primary policy or any of the underlying layers of coverage. These rulings are contrary to the law in other states, and arguably convert low-premium, excess liability policies into primary policies when that clearly was not the parties' intention when the policies incepted.
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.