Lessons for Health, Beauty & Wellness Companies [Part 3]: When to Consider Acquiring a Distressed Company
Apex Roofing & Restoration LLC a/a/o Monica Williams v. United Auto. Ins. Co., Fla. 1st DCA, No. 1D2022-3990, October 2, 2024 - Prior to suit, USAA’s insured assigned her rights to Apex via an Assignment of Benefits (AOB)...more
For some folks the three letters ABC are a reminder of elementary school and singing a song to learn the alphabet. For others, it is a throw back to the early 70’s when the Jackson Five and its lead singer Michael, still...more
So many things in life can be randomly assembled and made to function seamlessly: puzzle pieces for your five-year-old, online gaming teammates, and music mixed by a deejay, to name a few....more
Part 1 of this series discussed the lack of bankruptcy protections for cannabis companies since bankruptcy in the U.S. is an exclusively federal procedure and cannabis remains illegal under federal law and proposed a number...more
Florida Senate Bill 2A revised Fla. Stat §627.7152 to state that “a policyholder may not assign…any post-loss insurance benefit under any residential property insurance policy…issued on or after January 1, 2023.” Fla. Stat....more
As the cannabis industry matures, there will be winners and losers. Losers lack access to the U.S. Bankruptcy Code. Marijuana related assets cannot be sold free and clear of liens and encumbrances via the tried and true...more
Standing- Dickson v. Direct Energy, LP, 6th Cir. Case No. 22-3394. In this putative class action, the appellant appealed the district court’s decision to dismiss his Telephone Consumer Protection Act (TCPA) claim for...more
Key Points: The buyer of a home was not considered a mortgagee under a homeowners insurance policy when the proceeds from the sale were used to pay off the mortgage but there was no evidence that the buyer assumed any legal...more
Question: I read an article the other day describing the use of an assignment of benefits form. The article said that having patients sign this form is beneficial. It would result in his or her dental plan paying me the...more
The Florida Legislature passed Senate Bill 2-A (“SB2A” or the “Act”), which was signed into law on December 16, 2022. The Act has the potential to significantly reduce litigation of first party property cases in the state of...more
The last week of September, 2022, the State of Florida braced for what was categorized to be one of the worst storms to make landfall in U.S. history. Initially, all weather channels displayed the storm’s trajectory...more
Not too long ago, the Florida Legislature passed Section 627.7152 in an attempt to curb rampant litigation abuse by Assignment of Benefit (“AOB”) holders across the state. These AOB holders would receive certain rights from...more
You’ll find some notable decisions in our May Insurance Update. Appeals over pandemic-related business interruption losses have made their way up to state high courts. And so far, these courts have continued the trend...more
Section 627.7152, Florida Statutes went into effect on July 1, 2019 and regulates assignment of post-loss benefits agreements between an insured under a property insurance policy and any “person providing services to protect,...more
Two years after implementing meaningful assignment of benefits reform, Florida enacted broader property insurance claim reform. On June 11, 2021, Governor DeSantis sign S.B. 76, which takes effect on July 1, 2021. ...more
Recreational or medicinal cannabis is now legal in 35 states and the District of Columbia. But cannabis is still a Schedule I controlled substance under the federal Controlled Substances Act, which presents a host of problems...more
A condition precedent to receiving coverage under almost any insurer’s homeowner’s policy is an obligation for the insured to provide reasonably “prompt” notice of any loss. However, most policies never define what...more
In this short, three-part video series, Greenberg Glusker Partners Andrew Apfelberg and Brian Davidoff discuss important financial considerations for health, beauty and wellness companies in the wake of a pandemic. Part three...more
As many Americans are faced with the fallout of the COVID-19 pandemic, some business owners are now tasked with creating a clear path forward without traditional means of financial relief. Of its many tragic consequences,...more
APPROACHES TO RESTRUCTURING - The art of restructuring requires a feel for the right approach fitted to the situation of each distressed borrower. Here are some of the approaches a borrower might take in negotiations...more
The government’s response to the COVID-19 pandemic has resulted in federal assistance to numerous industries and individual taxpayers, but notably has left the state legalized marijuana industry out in the cold....more
On April 26, 2019, Florida Governor Ron DeSantis signed into law Florida House Bill 7065. The law, which took effect on July 1, 2019, was designed to reduce the amount of assignment of benefits (“AOB”) agreements that could...more
One practice that has plagued the insurance industry in recent years has been contractors soliciting homeowners to make insurance claims after a hailstorm, for example, and then obtaining an assignment of rights to the claim...more
Our blog series on best practices in administering benefit claims has thus far stressed the importance of knowing and reading the plan document and summary plan description. This week, we take a look at a plan term that has...more
Earlier this year, the Department of Labor issued an information letter explaining ERISA’s authorized representative requirement. Below are some of the takeaways employers may want to consider....more