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A New York federal court has delivered a mixed bag in clarifying an earlier order that directed Lamorak Insurance Co. to pay chemical maker Olin Corp. $130 million to cover cleanup costs at five contaminated sites, refusing both Olin’s bid to certify it as final and Lamorak’s stay request.
The U.S. Supreme Court on Monday declined Sun Life Assurance Co. of Canada’s request to review a Sixth Circuit ruling that it improperly paid out life insurance benefits under an employer-sponsored policy to the brother of a deceased worker instead of to the worker’s daughter even though she wasn’t named as a beneficiary.
A Washington federal judge on Monday ruled that two AIG excess insurers are not obligated to cover King County’s costs in connection with state and federal enforcement actions over environmental pollution at a Seattle-area Superfund site, holding that the insurers’ duties were extinguished by a previous settlement with the county.
The federal court system could not award a $38.2 million tax refund to a Swiss insurance company because doing so would trample on an executive branch prerogative, the U.S. Department of Justice said in a brief filed Monday in the D.C. Circuit.
POLICY & REGULATION
Class action securities fraud suits have proliferated in recent years, a trend that’s harming U.S. businesses, investors and the economy, and it needs to be reversed, a panel of defense attorneys said at an event Monday in Lafayette Hills, Pennsylvania.
An Ohio federal judge ruled Monday that Westfield Insurance Co. must defend the property manager for a Cincinnati office building in a lawsuit brought by a woman whose foot was caught in a malfunctioning elevator door, finding that Westfield’s policy clearly provides primary coverage for the manager.
The New Jersey Appellate Division on Monday revived a former Prudential employee’s malpractice suit accusing a law firm of improperly steering her race bias claim against the insurer to arbitration, ruling a lower court still has to determine whether the company had offered the opportunity to litigate the allegation in court.
RMBS trust insurer Ambac sued trustee US Bank in New York federal court on Friday, saying US Bank wrongly settled $374 million worth of claims over bad Countrywide loans for just $94 million, partly to head off a finding that US Bank was a fiduciary, which could “ripple” through to other RMBS litigation against the bank.
Federal Insurance Co. is suing a bean producer in Colorado federal court to get out of paying for an $11 million settlement it reached with two fired executives, saying a litany of exclusions apply to bar coverage for the deal.
Many have compared the Litigation Funding Transparency Act — recently introduced in the Senate — to the established requirement that defendants disclose insurance coverage information. But the bill would result in costly discovery sideshows that unnecessarily burden claimants and courts, say Matthew Harrison and John Harabedian of Bentham IMF.
Cravath Swaine & Moore LLP on Monday announced plans to top the mid- and senior-level associate pay scale set forth a week ago by Milbank Tweed Hadley & McCloy LLP.
Dentons ignored a female business development specialist who complained that the male managing director of the firm’s venture technology group repeatedly groped her and hit on her using graphic come-ons, according to a suit filed Monday in New York state court.
Nelson Mullins Riley & Scarborough LLP and Florida-based Broad and Cassel LLP will combine at the beginning of August, the firms announced on Monday, creating a consolidated firm with more than 725 attorneys nationwide and a strong footprint in the southeastern U.S.
The world of legal technology is quickly evolving, with new products coming to market in rapid succession. Here, Law360 takes a look at six recent developments.
Kevin Boyle has been the general counsel of Vencore for approximately the past year, guiding the $1.2 billion provider of information solutions, cybersecurity, engineering and analytics for the U.S. government through an initial public offering and a merger. Here, Law360 talks to Boyle about the recent merger, the one thing he values most in outside counsel, and his thoughts on the billable hour.