Posts for "Civil Litigation / Civil Procedure" filter

Post date: Posted on: May 30, 2014

The Freakonomics Blog has re-posted a podcast discussion between Steve Levitt and Stephen Dubner about sunk costs and when, in economic analysis, it is beneficial to quit one's course of action.  Many litigators would benefit from a better understanding of sunk costs and what they represent.

Tags: Civil Litigation / Civil Procedure, Commercial Litigation, Law & Economics, Legal Industry, Legal Theory
Post date: Posted on: April 11, 2014

Most states' limited liability company statutes contain provisions authorizing indemnification and advancement of legal expenses incurred by managers, officers, and other controlling persons resulting from lawsuits against them in their capacity as such.  Generally, these provisions allow the LLC to reimburse (indemnify) these "covered persons" for any legal expenses, except where the court finds bad faith, gross negligence, or some other "bad act," and companies may go a step further and pay such expenses during the pending litigation (advancement), provided that if the covered person is found to have committed a "bad act," the advanced funds must be repaid.

Tags: Alternative Business Entities, Civil Litigation / Civil Procedure, Comparative Law, Corporations, Equity / Chancery, Fiduciary Duties, Limited Liability Companies

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