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Deepwater Horizon
Catastrophic events often engender litigation that pushes the limits of our legal system. However, the tragic circumstances of the blowout of the Macondo Well that was being drilled in the Gulf of Mexico by Deepwater Horizon have helped clarify how to determine the extent of insurance coverage that is extended to parties who contract with the insured to be named as an additional insured on its liability policies.
Background
No other industry surpasses oil and gas exploration and production for the extent of its contractual allocation of responsibility for losses. The drilling contract between well operator British Petroleum (BP) and drilling contractor Transocean contained the industry's standard reciprocal allocation of risk. For example, Transocean agreed to indemnify BP for injuries and deaths of employees of Transocean and its contractors, and BP agreed to indemnify Transocean for injuries and deaths of employees of BP and its contractors (other than Transocean). With respect to pollution, Transocean agreed to indemnify BP for pollution originating above the ocean surface (from Transocean's rig), and BP agreed to indemnify Transocean for pollution originating below the surface of the water (from BP's well). In addition to the indemnity obligations, the drilling contract required Transocean to carry liability insurance and to name BP as an additional insured on all of its liability policies for “liabilities assumed by [Transocean] under the terms of [the Drilling] Contract.”
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.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?