First Republic Executives Fail in Attempt to Recover Nonqualified Deferred Compensation Plan Assets
With apologies to the pseudonymous children’s book author Watty Piper, this is the story of a humble buy-sell provision in a family-owned LLC’s operating agreement that temporarily ran out of steam in the lower court, only to...more
Yesterday, the Court of Appeals of Virginia issued a significant opinion in Thibault Enterprises, LLC v. David A. Yost, et al., Yost Living Trust, a case involving a dispute over a 50-foot granted easement for ingress and...more
On December 31, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit (the Court or the Fifth Circuit) held that the controversial $200 million Serta Simmons Bedding (SSB) uptier financing...more
The United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) ruled on December 31, 2024 that Serta Simmons Bedding’s (“SSB”) 2020 uptier exchange included a transaction that, contrary to the assertions of...more
The Appellate Court of Illinois has held that an underlying lawsuit was interrelated with another lawsuit brought against the insured by a different claimant, and thus precluded from coverage pursuant to the policy’s...more
Litigation arose over whether a suit for misrepresentation and breach of contract arising out of an easement triggered a Commercial General Liability (CGL) insurer's duty to defend. Internal confidential communications...more
Over the last few years, Confederate monuments in many North Carolina towns and cities have been objects of controversy. As one who parked for eighteen years in the shadow of the towering and now-departed Confederate...more
The Superior Court of New Jersey, Appellate Division has held that there is no coverage under an insurance broker’s claims-made professional liability policy because the policyholder reported the claim to the insurer three...more
Decades ago, Andy Warhol created 15 silkscreen prints and pencil illustrations based on Lynn Goldsmith’s 1981 photograph of the artist Prince. Goldsmith’s agent had licensed Vanity Fair to use the image to publish an...more
In our March Insurance Update, we discuss four state supreme court cases and four cybercrime cases. The state high courts address: •From whose perspective should a consent-to-settle provision be judged? •What standard...more
A Manhattan law firm sued Midvale Indemnity Company seeking coverage under the firm’s commercial property insurance policy for losses caused by stay-at-home and social distancing directives issued by New York State in...more
On Sept. 8, in N.J. Department of Environmental Protection v. American Thermoplastics Corp., Nos. 18-2865 & 19-2243, slip op., -- F.3d -- (3d Cir. 2020), the U.S. Court of Appeals for the Third Circuit (Court of Appeals) held...more