LexisNexis® Legal Newsroom
Greenberg Traurig Agrees To Pay $61 Million To Settle Ponzi Claims

By Michael J. Lello HOENIX - (Mealey's) The law firm Greenberg Traurig LLP on June 20 agreed to pay $61 million to settle a suit in the U.S. District Court for the District of Arizona alleging that it aided an alleged Ponzi scheme that bankrupted two companies and led to $900 million in losses...

Larson’s Spotlight on Recent Cases: Uninsured Employers’ Fund and Insolvency of Employee Leasing Company’s Workers’ Comp Carrier

Larson's Spotlight on Uninsured Employers' Fund, Voluntary Withdrawal From Labor Market, Bad Faith, and Going and Coming. Larson's surveys the latest case developments that you need to know about. Thomas A. Robinson, the staff writer for Larson's Workers' Compensation Law , has compiled...

Reduction of European Plant Overcapacity and its Impact on the Health of the Automotive Supply Chain

Not only is the integrity and viability of Eurozone threatened by the lack of a fiscal union and other pressures, but the European automotive industry is also facing years of stagnation and weakness caused by the economic downturn there. In October, the European Automobile Manufacturers Association...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (5/28/2013)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: Physician Fee Schedules Work More for Evaluation/Management, Not Surgery . Physician Dispensed Share...

General Principles and Introductory Matters Concerning Insurer Insolvency and Bankruptcy – New Appleman on Insurance Law Library Edition, Chapter 96

LexisNexis is publishing a new volume of our authoritative treatise on the nation’s insurance law, the New Appleman on Insurance Library Edition . It is entitled “Insolvency and Bankruptcy.” Comprehensive new Volume 9 is solely devoted to insurer as well as policyholder insolvency...

insolvency liquidation bankruptcy sign

Regulation Of Insolvency – New Appleman on Insurance Law Library Edition, Chapter 98

By Kristen J. Brown Abstract * * * This chapter examines the powers and remedial options afforded to state insurance commissioners for their regulation of insurance company insolvency. State laws arm insurance commissioners with broad intervention powers and various degrees of intervention options...

Receivership – New Appleman on Insurance Law Library Edition, Chapter 99

By Douglas Hertlein Abstract * * * Chapter 99 analyzes all forms of insurer receiverships. When a commissioner’s regulatory powers, including the power to issue supervision orders, prove to be insufficient to address financial or other operational difficulties of an insurer, state law...

Rehabilitation Of Insurers – New Appleman on Insurance Law Library Edition, Chapter 100

By Patrick H. Cantilo, Mark F. Bennett, Arati Bhattacharya Abstract *** This chapter addresses the rehabilitation of insurers. In general, upon the advent of receivership proceedings (for purposes of this chapter, any proceeding through which state insurance regulatory officials or their...

Liquidation – New Appleman on Insurance Law Library Edition, Chapter 101

By Katherine Billingham Abstract Liquidation of an insurance company is the equivalent of a Chapter 7 bankruptcy and is the remedy of last resort for an insurer in financial difficulty. This chapter examines the timing, purpose and grounds for liquidation, as well as the process of the liquidation...

Georgia: Uninsured Fund May Not Challenge Constitutionality of Statutory Amendment Expanding “Covered Claims”

A public entity, such as the Georgia Insurers Insolvency Pool, created as it was by the Georgia legislature to pay the covered claim of an insolvent insurance company for the protection and benefit of the company's named insured, could not bring constitutional challenges to legislative acts, held...

Consequences of Insurer Insolvency – New Appleman on Insurance Law Library Edition, Chapter 102

By Bruce Baty and Jodi Adolf Abstract * * * Chapter 102 discusses the consequences of an insurer insolvency for the policyholders, agents, excess insurers and reinsurers of the insolvent insurer. The chapter begins in Section 102.01 with a general discussion of the liquidation process...

U.S. Regulation of the Solvency and Insolvency of Alien Multi-National Insurers – New Appleman on Insurance Law Library Edition, Chapter 103

By Richard G. Liskov and John J. Sarchio Abstract * * * This chapter discusses the regulation of alien multi-national insurers—insurers domiciled outside the United States but operating in U.S. insurance markets. The chapter begins with an overview in Section 103.01 of such insurers...

Case Studies of Insurer Insolvencies – New Appleman on Insurance Law Library Edition, Chapter 104

By Patrick H. Cantilo, Mark F. Bennett, and Arati Bhattacharya Abstract *** In this chapter, five insurance insolvencies are discussed in detail to illustrate a number of the issues that are presented in the management of troubled insurers. The companies discussed are the Legion Insurance...

Bankruptcy and Insurance – New Appleman on Insurance Law Library Edition, Chapter 107

By Susan N. K. Gummow and Eric J. Shukis Abstract *** The filing of bankruptcy impacts the debtor-insured, its insurers, and parties asserting claims that may implicate the debtor’s insurance policies. Chapter 107 introduces some of the basic elements and concepts of bankruptcy law...

Insurance as an Asset in the Estate – New Appleman on Insurance Law Library Edition, Chapter 108

By Susan N. K. Gummow Abstract *** Having reviewed the basic elements and concepts of bankruptcy law in Chapter 107 above, Chapter 108 focuses on how insurance functions as an asset of the debtor’s bankruptcy estate. Section 108.01 begins by examining the relationship between the...

Impact Of Bankruptcy On Insurance Matters – New Appleman on Insurance Law Library Edition, Chapter 109

Abstract *** Having considered the bankruptcy process generally in Chapter 107 and undertaken an inquiry into how insurance functions as an asset of the bankruptcy estate in Chapter 108 above, this chapter turns to the impact of bankruptcy on insurance-related matters and addresses issues that...

Bankruptcy Issues Arising For Specific Kinds of Insurance – New Appleman on Insurance Law Library Edition, Chapter 110

By James M. Lawniczak Abstract *** Chapter 110 covers insurance issues that often arise in federal bankruptcy cases. Due to their nature, certain types of insurance policies are implicated more often in bankruptcy proceedings than others. For example, probably the most discussed type of insurance...

The Sixth Circuit, Relying upon Michigan’s Nonrecourse Mortgage Loan Act, Rejects the Enforceability of an Insolvency Covenant

Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC , a third-party purchaser of a foreclosed property sought a deficiency judgment against the borrower and guarantor...

Creditor’s Fiduciary Duty Claims Proceed Based on Traditional Insolvency Test

Quadrant Structured Products Company, Ltd. v. Vertin , C.A. No. 6990-VCL (Del. Ch. May 4, 2015) [ an enhanced version of this opinion is available to lexis.com subscribers ]. This Court of Chancery opinion is destined to be cited as a seminal ruling for its historical and doctrinal analysis of important...

Creditors’ Rights to Pursue Derivative Claims Against Company Directors Under Delaware Law

In a detailed May 4, 2015 opinion ( here ), Vice Chancellor Travis Laster of the Delaware Chancery Court extensively reviewed the rights of an insolvent company’s creditors to pursue derivative claims against the company’s directors [ an enhanced version of this opinion is available to lexis...

Vocational Expert Evidence Found Unnecessary to Support PTD Award: Cal. Comp. Cases August Advanced Postings (8/11/2015)

Here’s the latest batch of advanced postings for August 2015 issue of Cal. Comp. Cases. Lexis.com and Lexis Advance subscribers can link to the case to read the complete headnotes and summaries. © Copyright 2015 LexisNexis. All rights reserved. G4S Secure Solutions, Inc., National...

California Workers’ Comp Case Roundup (9/2/2015)

CALIFORNIA COMPENSATION CASES Vol. 80 No. 8 August 2015 A Report of En Banc and Significant Panel Decisions of the WCAB and Selected Court Opinions of Related Interest, With a Digest of WCAB Decisions Denied Judicial Review CONTENTS OF THIS ISSUE © Copyright 2015 LexisNexis. All rights...

California: Top 25 Noteworthy Panel Decisions (July–December 2015)

LexisNexis has picked the top “noteworthy” panel decisions issued by the California Workers’ Compensation Appeals Board during the period July through December 2015. The list features a number of decisions addressing the assignment and reporting of panel qualified medical evaluators...

California: Agreement Between Two Insurers Apportioning Liability Does Not Alter Nature of Joint and Several Obligation

Two workers’ compensation insurers were jointly and severally liable to pay workers’ compensation benefits regardless of a compromise agreement between the two insurers apportioning liability. Approval of the compromise agreement by the WCAB did not operate so as to alter the nature of their...