The Credit Card Accountability Responsibility and Disclosure Act of 2009 or Credit CARD Act of 2009 is a federal law passed by the United States Congress
Matthew Williams answers the following question: Can my commercial client get ATE legal expenses insurance for
an appeal? (Their ‘solid’ claim most unexpectedly lost at trial – there is no policy currently in place.)
Discussion of basic contract principles and negotiation strategy for credit unions and other financial institutions in their agreements with outsourcing vendors. Focus on assessing risk, developing appropriate mitigation strategies and practical steps a credit union can take to obtain a positive outcome.
Along with the attorneys at NOLO.com , to help address your legal concerns as business begins to return to "normal". We will discuss the impact of COVID-19 on insurance, contracts, employees, and corporate responsibilities.
The Credit Card Accountability Responsibility and Disclosure Act of 2009 or Credit CARD Act of 2009 is a federal law passed by the United States Congress
Matthew Williams answers the following question: Can my commercial client get ATE legal expenses insurance for
an appeal? (Their ‘solid’ claim most unexpectedly lost at trial – there is no policy currently in place.)
Discussion of basic contract principles and negotiation strategy for credit unions and other financial institutions in their agreements with outsourcing vendors. Focus on assessing risk, developing appropriate mitigation strategies and practical steps a credit union can take to obtain a positive outcome.
Along with the attorneys at NOLO.com , to help address your legal concerns as business begins to return to "normal". We will discuss the impact of COVID-19 on insurance, contracts, employees, and corporate responsibilities.
Dealing With Clients In Financial DistressArthur Howe
This presentation identifies issues that law firms and lawyers should consider when dealing with clients in financial distress. It is focused on Illinois law.
This presentation does not create an attorney-client relationship or provide legal advice. It may be deemed to be “Advertising Material.”
D&O Insurance - Become a Knowledgeable BuyerCraig Tappel
When serving as a board member for a corporation or non-profit, question the Management Liability policy limits and the coverage. They must be sufficient to protect both the entity and your personal assets.
Help, My Business is in Trouble! (Series: Restructuring, Insolvency & Trouble...Financial Poise
When a business becomes financially troubled, the business owner often experiences denial, paralysis, or both. Lenders commonly lose confidence and then trust in the business, as communications tend to break down, deadlines are missed, and promises are broken. Small business owners commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually has some options, and even some leverage. This webinar explains what a business owner should- and should not- consider and do when dealing with financial trouble. Specific topics include discussion of bankruptcy (Chapters 7 and 11); assignments for the benefit of creditors; and friendly foreclosures. This webinar provides the business owner and her advisors with an overview of various restructuring and liquidation methods, a framework for how to decide between them, and practical tips for traversing the difficult environment that is financial distress.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/help-my-business-is-in-trouble-2020/
How should I prepare an ATE application? MLM 4Demi Edmunds
Matthew Williams answers the following question: After discussing funding/insurance options on a new commercial claim, the client wishes to apply for after the event legal expenses insurance (ATE). How should I prepare the application? What cover should the client seek?
Commercial insurance risk and liability review, February 2016Browne Jacobson LLP
Our annual review provides a comprehensive review of some of the most important judgments and legal developments during 2015 and our analysis of some of the changes on the horizon for 2016 and beyond. We have covered a lot of ground this year so I hope you will be able to find a number of updates that are relevant and useful to you.
If you would like to know more about any of the topics, please feel free to contact any of the authors of the articles.
https://www.brownejacobson.com/insurance/training-and-resources/legal-updates/2016/01/commercial-insurance-risk-and-liability-review-2015-2016
Who are today's consumers of Legal Expenses Insurance?Demi Edmunds
Jacqueline Harvey talks about who today's consumers of legal expenses insurance are, in short - An increasing range of those using dispute resolution services.
The Insurance Act 2015 has introduced the most significant reform to insurance law in over 100 years. The Act impacts all those involved in the insurance sector. In this report we review key markets' response to the Act and outline the practical steps you should have addressed ahead of the Act coming into force.
Visit our hub to access information and resources tailored to brokers: www.brownejacobson.com/brokers
Dealing With Clients In Financial DistressArthur Howe
This presentation identifies issues that law firms and lawyers should consider when dealing with clients in financial distress. It is focused on Illinois law.
This presentation does not create an attorney-client relationship or provide legal advice. It may be deemed to be “Advertising Material.”
D&O Insurance - Become a Knowledgeable BuyerCraig Tappel
When serving as a board member for a corporation or non-profit, question the Management Liability policy limits and the coverage. They must be sufficient to protect both the entity and your personal assets.
Help, My Business is in Trouble! (Series: Restructuring, Insolvency & Trouble...Financial Poise
When a business becomes financially troubled, the business owner often experiences denial, paralysis, or both. Lenders commonly lose confidence and then trust in the business, as communications tend to break down, deadlines are missed, and promises are broken. Small business owners commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually has some options, and even some leverage. This webinar explains what a business owner should- and should not- consider and do when dealing with financial trouble. Specific topics include discussion of bankruptcy (Chapters 7 and 11); assignments for the benefit of creditors; and friendly foreclosures. This webinar provides the business owner and her advisors with an overview of various restructuring and liquidation methods, a framework for how to decide between them, and practical tips for traversing the difficult environment that is financial distress.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/help-my-business-is-in-trouble-2020/
How should I prepare an ATE application? MLM 4Demi Edmunds
Matthew Williams answers the following question: After discussing funding/insurance options on a new commercial claim, the client wishes to apply for after the event legal expenses insurance (ATE). How should I prepare the application? What cover should the client seek?
Commercial insurance risk and liability review, February 2016Browne Jacobson LLP
Our annual review provides a comprehensive review of some of the most important judgments and legal developments during 2015 and our analysis of some of the changes on the horizon for 2016 and beyond. We have covered a lot of ground this year so I hope you will be able to find a number of updates that are relevant and useful to you.
If you would like to know more about any of the topics, please feel free to contact any of the authors of the articles.
https://www.brownejacobson.com/insurance/training-and-resources/legal-updates/2016/01/commercial-insurance-risk-and-liability-review-2015-2016
Who are today's consumers of Legal Expenses Insurance?Demi Edmunds
Jacqueline Harvey talks about who today's consumers of legal expenses insurance are, in short - An increasing range of those using dispute resolution services.
The Insurance Act 2015 has introduced the most significant reform to insurance law in over 100 years. The Act impacts all those involved in the insurance sector. In this report we review key markets' response to the Act and outline the practical steps you should have addressed ahead of the Act coming into force.
Visit our hub to access information and resources tailored to brokers: www.brownejacobson.com/brokers
This White Paper is written by Paul J. Smith, AIF and Gary Sutherland, CIC, MLIS from NAPLIA.
The paper discusses E&O Coverages basic procedures and how the industry has arrived at this point.
How can knowledge of types of ‘legal funding’ available for dispute resolutio...Priya Saggar
How can knowledge of types of ‘legal funding’ available for dispute resolution be improved? - Jacqueline Harvey, Underwriter at AmTrust Law discusses with Modern Law Magazine
In this post recoverability era, what should we keep in mind when applying fo...Demi Edmunds
Matthew Williams answers the following question: My corporate client is bringing an action for breach of contract. I have discussed with the directors options on funding and the potential for ATE insurance. They have expressed an interest in applying for cover ‘at some point’. In this post recoverability era, what should we keep in mind?’
Points to keep in mind when looking for an ATE on a multi claimant commercial...Demi Edmunds
Matthew Williams answers the following question: When looking for ATE on a multi claimant commercial claim, are there additional points to keep in mind?
The Case This case was developed by the MIT Sloan School o.docxmehek4
The Case
This case was developed by the MIT Sloan School of Management. It is part of their
“Learning Edge,” a free learning resource. This case was prepared by John Minahan
and Cate Reavis. This case is based on actual events. Actual names are changed; some
of the narrative is fictional.
In early 2012, as he prepared to enter a meeting with the board of trustees of a
state pension fund, Harry Markham, CFA, couldn't help but feel professionally
conflicted.
Since earning his Master of Finance in 2004 at one of the top business schools in
the United States, Markham had worked for Investment Consulting Associates
(ICA), a firm that gave investment advice to pension funds.
Since joining the firm, Markham had grown increasingly concerned over how
public sector pension fund liabilities were being valued. If he valued the liabilities
using the valuation and financial analysis principles he learned in his Master of
Finance and CFA programs, he would get numbers almost twice as high as those
reported by the funds.
This would not be such a problem if he were allowed to make adjustments to the
official numbers, but neither his clients nor his firm was interested in questioning
them. The board did not want to hear that the fund's liabilities were much larger
than the number being captured by the Government Accounting Standards Board
(GASB) rules and his firm wanted to keep the board of trustees happy.
How, Markham wondered, was he supposed to give sound investment advice to
state treasurers and boards of trustees working from financials that he knew were
grossly misleading?
Markham's dilemma came down to conflicting loyalties: loyalty to his firm,
loyalty to the boards of trustees and others who made investment decisions for
public pensions and who, in turn, hired his firm to provide investment expertise,
and loyalty to the pensioners themselves, as Markham believed was called for by
the CFA Code of Ethics and Standards of Professional Conduct.
In his role as investment advisor, the differing views on how to value pension
liabilities challenged Markham on both a practical and an ethical level. "My role
is not to decide the value of liabilities," he explained.
That is the actuary's job. My role is to give investment advice. However, as an
investment advisor, the first thing you want to understand is the client's
circumstances. That is a basic ethical precept. The CFA professional standards
say you should never give advice without knowing what your client's
circumstances are. And so what happens is that we have these funds that are
grossly short of money, but the accounting does not show them as being grossly
short of money. I make the case within my firm that we need to know where we
are starting before we give advice. And perhaps our advice would be different if
the client knew they were starting from a multi-billion-dollar hole that they're
seemingly not aware of.
In addition to the fact ...
What Title Companies Can Do Now to Prepare for the Future of Mortgage LendingKhurram Mukhtar
Uncertainties in the home industry are inevitable. Managing various parties like sellers, agents, and appraisal companies can be complicated. We understand the challenges that home finance professionals face in mortgage loan origination. However, these complexities raise the question of how title companies can prepare for the future of mortgage lending. In search of a better solution, AtClose sheds light on the minimum requirements with the lenders and title agents. Attempting to meet those underlying needs while catering to industry challenges, AtClose designed a complete title industry solution. Read the whitepaper to learn how AtClose's leading order processing technology removed the friction that has been denying the title industry efficiency for so long.
Find out more about AtClose: https://www.atclose.com/
Similar to ATE: Abolition of recoverability and implications for commercial cases MLM 3 (20)
Can ATE be an ‘answer’ to a threatened security application? MLM 23Demi Edmunds
Matthew Williams answers the following question: After the event legal expenses insurance - can it be an ‘answer’ to a
threatened security application?
Might looming limitation affect prospects for obtaining an ATE cover? MLM 18Demi Edmunds
Matthew Williams answers the following question: ‘Looming limitation’ – Might this affect prospects for obtaining commercial after the event legal expenses insurance (ATE) or the terms on which it’s offered?
Is there anything we can do to help expedite an ATE application? MLM 5Demi Edmunds
Matthew Williams answers the following question: My corporate client has a good commercial claim,
and would like to obtain after the event legal expenses
insurance (ATE) for it. The directors are keen to take
advantage of the current provisions on premium
recoverability. As such the idea is to get a policy in
place prior to the forthcoming implementations of The
Legal Aid, Sentencing and Punishment of Offenders
Act (LASPO) which abolishes that recoverability. As
the implementations are scheduled for 1st April 2013,
time is now very tight. Is there anything we can do to
help expedite an ATE application?
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
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How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Debt Mapping Camp bebas riba to know how much our debt
ATE: Abolition of recoverability and implications for commercial cases MLM 3
1. ATE: Still on the
Agenda - Abolition
of recoverability
and implications for
commercial cases
Abolition of recoverability
of ATE premiums and CFA
success fees has been much
heralded. It is anticipated to
be effected by the April 2013
implementation of parts of
The Legal Aid, Sentencing and
Punishment of Offenders Act
(LAPSO). Much of the focus on
repercussions has been on the impact for personal
injury claimants and on the introduction of qualified one
way cost shifting (QOCS). There has been significantly
less debate on the impact for commercial cases.
Impact of changes on ATE for commercial cases
The end of recoverability does not mean the end of
availability of ATE insurance for commercial or other
cases. Neither does it mean the end of the need to
address the merits of applying for cover, at the outset
and/or as a matter progresses. QOCS will not apply
to commercial cases and cost shifting will continue to
apply. A party to a commercial dispute will continue
to run the risk of being required to pay a successful
opponent’s costs (and be responsible for the entirety of
their own), should their case fail. With recoverability in
place, the advantages of obtaining cover are obvious.
Where payment of the premium is contingent on
success, and is then recoverable from an opponent,
seeking cover may be considered something of a ‘no
brainer’. When recoverability goes, that position will
differ to the extent that the premium will be payable
by the insured either from damages or otherwise. That
is the new factor to be considered and weighed in the
economics for each case, but the advantage of risk
protection remains just as clear.
Dispute resolution lawyers are acutely conscious of
the need to give clients the best information about the
costs of their matter from the outset and throughout.
Where that risk can be offset by ATE cover, then
irrespective of the abolition of recoverability, a client
will want to understand the relative benefits of cover in
the commercial and economic context of the particular
claim. If the claim involves a funder, that funder will
often require ATE cover as a condition for funding.
The new ‘post recoverability’ world may alter some
dynamics of ATE considerations but commercial ATE
cover should remain firmly on the agenda.
By Matthew Williams, Head of AmTrust Law at AmTrust
Financial Services
Overhaul to overcome
As part of the service I provide
for the Bold Legal Group
members I attended, and reported
on, the National Property Law
Conference that took place in
October. The topics covered
included; the SRA’s Conveyancing
review; Joint Ownership in light of
Jones v Kernott; the new Property
Information Form; Mortgage Fraud; Lender Panels and
the Conveyancing Quality Scheme.
If you thought that the run up to last October, with
the new SRA Handbook, OFR, the Legal Services Act
and Alternative Business Structures was hectic, think
again. The next fourteen months will be even worse. The
way conveyancing is carried out and delivered will, in
my opinion, change dramatically. High street law firms
really must start paying attention now and make sure
that their own houses are in order.
There are new market entrants (Co-op, AA, SAGA,
Direct Line) and there will be more. Say what you like
about them but they will, over time, have a negative
impact on your businesses.
Many firms will need to give themselves a complete
overhaul. What do your offices look like from the
outside? How welcoming are they inside? Are your
front line staff as approachable, friendly, helpful and
knowledgeable as they should be? Are you telephones
answered promptly? Is the help and advice given by
those answering the phones really as good as it can be?
Are verbal estimates followed up in writing and then
followed up again by a phone call? Your fee earners
might be good when it comes to the areas of law they
deal with but are they good enough when it comes to
interacting with the public? All of these things, as small
as they might seem, are important.
There are many things I can help you with (for
example keeping up to date with industry changes and
new market entrants) and there are many things you
can help yourselves with. However, the first thing you
need to do is acknowledge that as times change so
must you.
If you are interested in joining the Bold Legal Group
and/or coming to any of our CPD events (next one
15.11.12), please email: rh@boldlegal.co.uk.
By Rob Hailstone, Bold Legal Group
ML // November 2012
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