Recently, the New York Court of Appeals held that each of several excess liability insurers can be wholly responsible for the entire extent of their policyholders’ asbestos liabilities. The Court further held that “vertical” exhaustion would apply; rejecting the insurers’ attempt to apply “horizontal” exhaustion before upper-layer policies must respond.
Continue Reading “All Sums” and “Vertical” Exhaustion Apply to Excess Coverage for Asbestos Liabilities

With the economy in a modest recovery and with cheap financing readily available, M&A activity was at an all-time high in 2015. Surpassing the prior record of 4.3 trillion dollars in deals in 2007, 2015 saw M&A activity of 4.7 trillion dollars worth of transactions. The retail sector did more than its part to contribute to the M&A upswing. Convenience stores, pharmacies and consumer products saw a large volume of deal activity.
Continue Reading Year in Review: M&A in the Retail Sector