Insider law examined in Europe; key Swiss case

Article Abstract:

The Swiss Federal Tribunal has handed down a decision on insider trading necessitated by a French request for the names of those dealing through Swiss banks in the Societe Generale affair. In rendering this decision, the court followed the principle of parity of information. The court held that the transactions broke the Swiss insider trading law and thus constituted dual criminality. This permitted Switzerland to give France the information requested under the European Convention on Mutual Assistance in Criminal Matters.

Insider trading in securities, Insider trading (Securities), Harmonization of laws

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Third-party liability examined; known losses

Article Abstract:

The known loss doctrine has given rise to many court battles over coverage for environmental claims. Courts have disagreed over the validity of this doctrine as an insurer defense, and the key to using the doctrine with third-party liability environmental insurance policies is identifying the event being insured and the degree of chance the law requires. In 1992, a California Court of Appeal addressed the doctrine in Montrose Chemical Corp v Admiral Insurance Co, and the case is now before the California Supreme Court.

Interpretation and construction, Pollution liability insurance, Insurance law

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Third parties benefit from some rulings: courts will issue releases and injunctions favorable to nondebtors if certain factors such as 'identity of interest' are present

Article Abstract:

Several key factors should be considered within the totality of circumstances in cases dealing with third party releases and injunctions in bankruptcy court. These include the the existence of the following: an identity of interest between debtor and third party, the nondebtor's has contribution to substantial assets in the reorganization, and the necessity of an injunction to the reorganization.

Bankruptcy Law, Other Justice, Public Order, and Safety Activities, United States, Business failures, Bankruptcy reorganizations, Bankruptcy reorganization

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