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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.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
CLE Shouldn't Be the Only Mandatory Training for Attorneys
Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.