LexisNexis® Legal Newsroom
    The Non-Arbitration Alternative To NY Commercial Division ADR

    Corporate transactional attorneys drafting dispute resolution provisions in New York commercial agreements should consider using a provision that would require any dispute arising under the agreement to be determined in accordance with the NY Supreme Court’s Commercial Division and its rules applicable to accelerated adjudication actions, says Ed O’Toole of Venable LLP.

    Ex-Humana Worker Denied Collective Cert. In OT Suit

    A Florida federal judge on Monday refused to certify a former Humana unit employee’s overtime suit as a collective action under the Fair Labor Standards Act, saying fewer than 10 people out of a potential class of thousands have wanted to join the suit.

    Credit Suisse, Insurers Settle Over $69M Spent On Dud RMBS

    Credit Suisse Securities USA LLC and a group of insurers that sued the broker-dealer over $69 million in residential mortgage-backed securities rendered nearly worthless in the financial crisis settled their dispute on undisclosed terms just hours before trial on Monday.

    The State Of Computer Fraud Coverage Law: 5 Key Rulings

    A New York federal court’s recent decision that Medidata Solutions is entitled to coverage for a loss to an email-based theft scheme and a Michigan federal judge’s ruling that a tool manufacturer isn’t covered for a similar scam added to a body of wildly varied case law on whether computer fraud insurance covers sophisticated criminal plots.

    Expert Cleared To Testify In Ford Minivan Fire Insurance Suit

    A New Jersey federal judge Friday denied Ford Motor Co.’s attempt to end a suit blaming a wiring defect in a Ford minivan for a 2012 house fire, saying the homeowners and their insurer had produced a qualified expert witness.

    Firm Should Have Expected Malpractice Suits, 5th Circ. Told

    Imperium Insurance Co. told a Fifth Circuit panel Friday it was justified in denying law firm Shelton & Associates PA coverage for a pair of malpractice suits, saying the firm had every reason to expect at least one of those suits when it took out the policy.

    Insurer Urges 11th Circ. To Spare It From $15M Injury Verdict

    An insurance company on Monday asked the Eleventh Circuit to vacate a ruling putting a restaurant it insures on the hook for a $15 million verdict in a personal injury suit against a shopping center, saying the lower court ignored a Florida precedent establishing when a tenant’s insurance policy might extend to a landlord.

    Congressional Forecast: November

    After months of talk, speculation and behind-the-scenes negotiations, the Republican tax reform proposal is expected to be released to the public this week. The stakes surrounding it are high; failure to pass the bill could put at risk Republican control of Congress in the 2018 elections, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.

    British Lawmakers Gear To Grill FCA Boss Over RBS, Aramco

    The boss of Britain’s Financial Conduct Authority faces a public grilling from lawmakers Tuesday over a controversial rule change seen as a bid to woo Saudi Aramco to float in London, and a secretive probe into conduct issues concerning the Royal Bank of Scotland Group PLC.

    FCA Reviews Funding Of Financial Compensation Scheme

    The Financial Conduct Authority on Monday launched final proposals to change how the Financial Services Compensation Scheme is funded and to increase the protection it provides to investment and pensions consumers.

    EU Regulator Simplifies Calculating Insurers' Capital Needs

    The European Insurance and Occupational Pensions Authority on Monday submitted its first advice to the European Commission on its review of specific items in the Solvency II rules, suggesting simplifying calculations for insurers' capital needs.

    FCA Steps Up Efforts To Make Top Ranks 50% Female By 2025

    The U.K.’s financial regulator revealed an action plan for boosting the diversity of its senior leadership team on Monday, amid heightened focus from Parliament and a fall in female and ethnic representation in its top ranks over the past year.

    Making Pro Bono Work

    Organizations around the globe highlighted pro bono efforts last week as part of an annual tradition observed across professions. Catch up if you missed this Expert Analysis series that published throughout Pro Bono Week, exploring the challenges and rewards of pro bono volunteering in the legal profession.

    Being There: Preparing Witnesses For Depositions

    Preparing witnesses to be deposed is a critical element of discovery. It is important to remember that each witness is an individual with unique personal qualities, strengths and weaknesses. Getting to know the witness helps establish rapport and trust, says Alan Hoffman of Husch Blackwell LLP.

    5 Ongoing Collective Bargaining And Organizing Challenges

    Most expect that the current White House and federal agencies will take a more business-friendly approach than in recent years. But when it comes to responding to union organizing campaigns and negotiating collective bargaining agreements, employers still face wide-ranging challenges, says Steven Gutierrez of Holland & Hart LLP.

    ESMA Expands Guidance On Alternative Performance Rules

    The European Union’s securities regulator published clarifications on Monday to help banks apply new rules for reporting debt and equity to investors more consistently across the bloc.

    Trump Admin Eyes Looser Limits On ACA Essential Benefits

    The Trump administration on Friday proposed new leeway for states to determine coverage of “essential health benefits” in Affordable Care Act plans, addressing a key issue targeted by the failed ACA repeal effort.

    AIG Says Disney Can't Arbitrate 'Pink Slime' Coverage Row

    AIG Speciality Insurance Co. blasted The Walt Disney Co.’s efforts to force into arbitration their dispute regarding whether the insurer owes $25 million toward a settlement over news reports calling a Beef Products Inc. item “pink slime,” telling a California federal court Thursday that it lacks jurisdiction and arbitration isn’t appropriate.

    Peoples Bank Misrepresented Coal Appraisal, Suit Says

    The Chapter 11 trustee for a group of bankrupt coal producers filed suit Thursday against Ohio-based Peoples Bank and Peoples Insurance Agency, saying the financial services companies withheld knowledge that the coal companies were very valuable in order to railroad them into a financially destructive agreement.

    Marshall Dennehey Ends Atty's ADA Case Over Fear Of Heights

    Marshall Dennehey Warner Coleman & Goggin has apparently agreed to end claims that it violated the Americans with Disabilities Act by failing to accommodate an ex-insurance associate’s claustrophobia and fear of heights, according to a court filing Thursday.

    Brexit Prompts Belgium To Establish English-Language Court

    The Belgian government on Friday said it will establish an English-speaking business court to handle an increase in cross-border cases from international companies in the wake of Brexit.

    2nd Circ. Affirms Travelers Unit's Win In Sea Tow Suit

    A Travelers unit didn't act in bad faith in its handling of a personal injury lawsuit against Sea Tow Services International Inc., the Second Circuit affirmed on Friday, finding that the insurer's presettlement strategy in the underlying litigation doesn't support such a claim.

    BancorpSouth Seeks Rehearing Over $24.5M Coverage Denial

    BancorpSouth Inc. on Thursday asked the Seventh Circuit for a redo of a decision that found a Chubb Ltd. unit didn’t need to cover the bank’s $25.5 million settlement of a class action over allegedly bogus overdraft fees, saying an earlier panel construed an exclusion in Chubb’s insurance policy too broadly.

    Making Pro Bono Work: The Sidley-Exelon Partnership

    Exelon Corp. and Sidley Austin LLP have been working together on both short- and long-term pro bono matters for the past 10 years. We offer a glimpse of how we got started and what we have done in the hope that other corporate legal departments and law firms might find ways to work together to meet the legal needs of the poor, say Kelly Huggins, pro bono counsel at Sidley Austin, and Margaret Balsley-Cross, assistant general counsel at Exelon.

    Treasury Says Bank Rules Shouldn’t Apply To Asset Managers

    The U.S. Department of the Treasury on Thursday said asset managers and insurers should not be subjected to stress testing and other rules banks follow, and instead should have their trading and other activities regulated.