Month: June 2009

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Drycleaners News June 2009 Issue

How many drycleaners do you know who own their business and building? Some drycleaners may have thought they had an asset, only to find out that the building is contaminated and cleaning it up will cost a lot of money.

Many drycleaners have always followed the law and managed a clean and respectable business, but they later find out that the rules they had followed for years have become more stringent. Other drycleaners would like to eventually pass the business on to their children but are afraid of handing them an environmental liability. Continue reading “Locate And Keep Old Insurance Policies Safe to Protect Assets”

The New Jersey Appellate Division ruled recently in Myron Corp. v. Atlantic Mutual Ins. Corp that N.J. Rule of General Application 4:42-9(a)(6) provides for the award of counsel fees even if the court action takes place in a state outside of New Jersey. In an apparent effort to discourage forum shopping, the Appellate court’s ruling was made in a case where a policyholder sought to recover attorney’s fees and court costs from defending against its insurance company’s two out-of-state declaratory judgment actions. Continue reading “NJ Court Awards Policyholder Counsel Fees for Dec Action Brought Elsewhere”

Those west coast policyholders whose historical primary insurance carriers have since become insolvent may wish to take notice of a recent Ninth Circuit U.S. Circuit Court of Appeals decision styled California Ins. Co. v. Stimson Lumber Co., 2009 WL 1035238 (9th Cir. (Oregon) April 16, 2009). In Stimson, the appellate court was called on to reconsider district court rulings concerning how defense costs would be allocated in a situation where the policyholder’s primary insurer had become insolvent, but an umbrella policy had been purchased to overlay the risk for that particular policy period. Continue reading “Horizontal Allocation is Ninth Circuit Choice in Insolvent Gap Case; But Insured Not Required to Pay Share of Costs”