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Creditor Exclusion<br><b><i><font="-1">The Perils of D&O Coverage</b></i></font>
The U.S. Court of Appeals for the Fifth Circuit recently held that a Creditor Exclusion provision in directors and officers (D&Os) insurance policies may result in significant limitations on the coverage provided to the D&Os when the underlying dispute is with a creditor acting in its creditor capacity. Markel Am. Ins. Co. v. Verbeek (5th Cir. Sep. 27, 2016). See http://bit.ly/2fkNY1a.
In the Markel case, the owners and officers of Color Star Growers of Colorado, Inc. (Color Star) were sued by lenders who provided the company with a credit facility to refinance its debt. It should be noted that nowhere are the defendants referred to as directors as well. The lenders alleged that the individual defendants misrepresented the company's financial condition in procuring the loan. The defendants tendered the litigation to Color Star's D&O insurer requesting it to defend the litigation as required by Color Star's D&O insurance policy. The insurer refused citing the policy's Creditor Exclusion.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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.
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.
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.