It is reported in the press that the PWC administrators of Lehman Brothers International (Europe) Limited (LBIE), the London-based arm of the Lehman bank, are to appeal the recent Court of Appeal ruling relating to the distribution of segregated client funds. The first instance judge held that those clients of LBIE whose funds should have been segregated, but were not, were not entitled to share in the pot of client money. …
Read More UK: Lehman English Administrators to Appeal Court of Appeal Ruling

In Deo Antoine Homawoo v GMF Assurance SA and others [2010] EWHC 1941 (QB) the High Court had to determine, as a preliminary issue, whether Rome II (a regime for determining the law applicable to non-contractual obligations) applied to Homawoo’s claim against GMF Assurance, a French insurance company, for damages for personal injury caused to Homawoo during a road traffic accident in France. …
Read More UK: Uncertainty as to the Temporal Scope of Rome II

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published its final advice to the European Commission on the Equivalence assessments to be undertaken in relation to Articles 172, 227 and 260 of the Solvency II Directive. The advice follows the draft advice previously published (see here) in July 2010. …
Read More EU: CEIOPS Publishes Final Solvency II Equivalence Advice

Insurance premiums in Argentina rose 8.9% to 36.89 billion pesos ($9.35 billion) in the 12 months to the end of July, the insurance superintendency, or SSN, has reported. The total in July 2010 was 3.49 billion pesos ($885 million), an increase of 10.5% from June and 10.8% from July 2009. …
Read More Argentina: Insurance Premiums Up 8.9% in 12 Months to July 2010

In a judgment today, in the case of Akzo Nobel Chemicals Ltd and Akcros Chemicals Ltd v Commission, the European Court of Justice (ECJ) ruled that, under European Union law, internal company communications with in-house lawyers are not protected by legal professional privilege (LPP). …
Read More Client Advisory – ECJ Confirms No Change to European Rules on Legal Professional Privilege for In-House Lawyers

In Binder v. Medicine Shoppe International, Inc., No. 09-14046 (E.D.Mich. 2010), a breach of contract dispute between the plaintiff (a franchisor) and the defendant (a franchisee) arose out of a Uniform Franchise Offering Circular and subsequent License Agreement (“Agreement”).  The Agreement was entered into in Michigan and provided that the parties would arbitrate any disputes regarding the Agreement in Missouri. …
Read More District Court Finds that the Federal Arbitration Act Preempts State Statute Barring Out-of-State Arbitrations

In early September, the Centers for Medicare and Medicaid Services (CMS) released a proposed rule that seeks to repeal specific elements of Medicaid prescription drug regulations that were published in 2007. …
Read More Healthcare News from Capitol Hill and the Department of Health and Human Services – September 13, 2010

In a recent decision of the New York Supreme Court, United States Fid. & Guar. Co. v. American Re-insurance Co., Index No. 604517/02 (N.Y. Sup. Ct. Aug. 20, 2010), the court granted summary judgment to a ceding company against the defendant reinsurers on causes of action for breach of contract and breach of the implied covenant of good faith and fair dealing arising out of the cedent’s $987.4 million payment to settle certain asbestos injury claims. …
Read More New York State Court Rules that Reinsurers Must Follow Cedent’s Settlement and Loss Allocation