Legal Articles, Insurance

CONSIDERING A SALE? Take early steps to protect your talent

Are you a business owner who is thinking about selling your businesses? It’s never too early to plan ahead to protect the future success of the business.

CONFLICT ISSUES IN THE SALE OF CLOSELY HELD BUSINESSES; TENSIONS AMONG FAMILY MEMBERS

The sale of a family business or any business with multiple owners creates potential conflicts among the owners as well as potential issues for the attorney representing the sellers. Among these issues are those related to employment/consulting agreements, noncompete agreements, indemnification clauses, and dispute resolution as part of the sale.

CLAWBACKS: CREATING A FAIR POST-SALE DEAL FOR FORMER OWNERS

Clawbacks are provisions that assure a former equity owner receives fair, full consideration when it sells its equity. Such provisions enable the former owner to participate in the consideration received in a subsequent sale of the business by the remaining owner or owners.

NO FAULT INSURANCE IN NEW YORK STATE

No-Fault benefits are mandatory for all N.Y.State motor vehicle insurance policies as part of NYS minimal insurance requirements, provided by all insurers and self-insurers of motor vehicles.

Bifurcation of First-Party Auto Claims in New Mexico

A motion to bifurcate is often the first line of defense in a litigated first-party insurance claim. The Defendant carrier contends bifurcation streamlines discovery and disposes of “extra-contractual” issues without having to use the court’s time and resources. In truth, however, by moving to bifurcate, the first-party insurance is trying to accomplish two major goals: 1) prevent discovery of harmful and/or “proprietary” business and/or claims file information that the insurance company knows will support an insured’s bad faith and extra-contractual claims; and 2) delay addressing the extra contractual claims by creating another hurdle for the insured to clear, i.e. a discovery and trial on the damages before allowing a discovery or trial on the merits of the extra-contractual first-party claims. The individual facts and circumstances of the case that warrant non-bifurcation should be emphasized with the court. Plaintiff should emphasize facts which could permit recovery on extracontractual claims regardless of whether or Plaintiff can prevail on the contractual claim. Plaintiff should emphasize arguments that the extra-contractual issues will have to be resolved regardless of the number of trials or the order of discovery, so in the interest of judicial efficiency, bifurcation would not be appropriate.

Insurance Coverage For Business Interruption Due to Coronavirus

Do you have coverage for lost business under your general liability policy's business interruption provisions?

Basic SEC Rules for Startup Companies

Starting a Company? Don't solicit investments until you consult an attorney regarding the Securities and Exchange Commission (SEC) and State Registration Rules regarding soliciting and receiving investments.

The Notice-Prejudice Rule

This article describes the relation between, late notice, the notice prejudice rule and the different types of policies issued by insurance companies such as: claims made; claims made and reported; and occurrence.

James T. Flynn-Former VOYA Financial Broker-Subject of Numerous Customer Suits Involving REITs-Greenville, SC

We recently filed several FINRA arbitrations for customers of former VOYA Financial financial advisor James T. Flynn of Greenville, S. Carolina.

Dexter L. Thomas Investigation March 2019 Update-Dallas, TX

We are representing a large group of former clients of now decease, former financial advisor, Dexter Thomas of Dallas, Texas.

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