Commercial General Liability policies have, for several decades, included advertising and personal injury coverage. Such coverage is afforded for injury caused by various enumerated offenses, including breach of privacy. Although the precise terms of CGL policies vary, under some policies covered Continue Reading
Private Equity Funds Liable for Portfolio Company’s Pension Obligations
A U.S. District Court issued a ruling on March 28 that affects pension liabilities for private equity funds and their portfolio companies. Taken further, the ruling potentially changes fundamental rules for tax-qualified plans in determining how far a controlled group of employers may extend. The Continue Reading
Pension Plan Sponsors Beware: The Department of Labor Is Investigating Plans That Fail to Locate and Pay Benefits to Terminated Vested Participants
A Department of Labor (“DOL”) official recently disclosed a new DOL investigation initiative focusing on the adequacy of defined benefit plan procedures to locate and pay out benefits to terminated vested participants. The initiative serves as a reminder of the importance of having procedures in Continue Reading
FdG Logistics LLC v. A&R Logistics Holdings, Inc., C.A. No. 9706-CB (Del. Ch. Feb. 23, 2016)
Anti-reliance disclaimer by buyer in M&A transaction: Delaware law enforces clauses which identify the specific information on which a party has relied and foreclose reliance on other information Upon the consummation of an M&A transaction, a buyer usually has a period of time in which to Continue Reading
If You Sell Online, Your Fine Print May Put You At Risk: Wave of Lawsuits Targets Website Terms and Conditions Under the New Jersey Truth-in-Consumer Contract, Warranty and Notice Act
Nearly every business involved in online commerce or advertising includes disclaimers, limitations of liability, and other terms on its website’s Terms and Conditions or Rules of Use. Those Terms and Conditions are designed to reduce the risk of lawsuits by imposing acceptable use obligations, Continue Reading
Policyholders Beware: Failure to Give Timely Notice May Void Coverage Even When an Insurer Is Not Prejudiced
The New Jersey Supreme Court recently held that an insurer may disclaim coverage without showing it was prejudiced by a policyholder’s failure to comply with a claims-made policy’s notice provision. In Templo Fuente De Vida Corp. v. National Union Fire Insurance Co., A-No. 074572, slip op. Continue Reading
Can Insurance Help You Pay for Coal-Fired Power Plant Decommissioning?
The environmental remediation costs of decommissioning a coal-fired power plant can be chillingly high—in one proposal we recently reviewed, the environmental costs of a 45-year-old plant with four ash ponds approached $30 million. As more and more rational business actors pull the plug and decide Continue Reading
Hart-Scott-Rodino Thresholds to Increase Effective February 25, 2016
The Federal Trade Commission (“FTC”) has announced revised thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”), that will go into effect on February 25, 2016. The revised thresholds will apply to transactions that close on or after the effective date. Continue Reading
New Jersey Property Tax Appeal Time
It is property tax appeal season in New Jersey. If you own or lease commercial, residential and/or investment property in New Jersey, now is the time to review whether you should file a 2016 appeal. If you own real property in New Jersey, by February 1 you will receive a Notice of Continue Reading
Generators of Regulated Medical Waste in New Jersey Must Meet Federal Standards After Preemptions
Generators of regulated medical waste (RMW) in New Jersey may need to revise their handling, marking and storage practices and procedures to meet federal hazardous materials requirements (49 CFR parts 171-180) (the federal HMRs) following an announcement by the U.S. Department of Transportation Continue Reading