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An Insurer's Willful or Knowing Violation of Mass. Gen. Law, Ch. 93A, ' 9
Earlier this year, the Supreme Judicial Court of Massachusetts issued its much anticipated decision, Rhodes v. AIG Domestic Claims, Inc., 461 Mass. 486 (2012), clarifying the scope of damages when an insurer is found to have willfully or knowingly committed an unfair settlement practice in violation of the Massachusetts Consumer Protection Act (M.G.L. c. 93A, ' 9).
In awarding sanctions totaling $22 million, the court determined that the measure of damages for an insurer's willful or knowing violation of ' 9 of Massachusetts' prohibition of unfair settlement practices must be calculated as a multiple of the underlying tort judgment rather than the actual harm caused by the insurer's conduct. On the other hand, where the underlying tort claim settled prior to entry of a judgment, damages will be determined as a multiple of the actual harm caused by the insurer's violation.
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.