Apr. 24, 2010

TRIPP SCOTT’S STEPHANIE ALEXANDER AND BRADY COBB WIN GROUNDBREAKING APPEAL FOR THE LIFE INSURANCE SETTLEMENT ASSOCIATION

Appeal upholds May 2009 ruling

FORT LAUDERDALE, Fla., April 24, 2010 – Tripp Scott today announced that Stephanie Alexander, director, and Brady Cobb, associate, recently won an appeal in Florida on behalf of its client, Life Insurance Settlement Association (LISA).

The appeal upheld a ruling from May 2009 that found that Florida insurance regulators overstepped their authority in seeking transaction information from other states.  In that case, the Florida Office of Insurance Regulation had wanted to create a rule, 690-204.030, that would have required viatical insurance settlement providers to file voluminous and private financial and business information.  The rule was ultimately found an impermissible exercise of legislative authority and therefore invalid. 

About Tripp Scott

Since its inception in 1969, Tripp Scott has served the legal needs of established and growing businesses, as well as individual clients and their families. The multi-disciplinary firm represents a diverse mix of publicly traded corporations and privately held companies with operations in Florida and around the country. Tripp Scott provides legal and business counsel to clients in the areas of corporate, litigation, aviation, finance and tax, healthcare, real estate, bankruptcy, environmental and entrepreneurial business. For additional information, call (954) 525-7500 or visit the firm’s Web site at www.trippscott.com.

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Fresh


Lease Agreements and Attorney Review: Invest Now or Later

SPECIAL REPORT by Tripp Scott's Matthew Zifrony as published in the FLORIDA TREND

A current or prospective tenant is presented with a lease contract with
several seemingly untenable terms. The landlord says the contract is non-negotiable. The tenant takes him at his word, quickly signs and returns the contract, and hopes nothing bad arises.

Bankruptcy Courts' Powers to Sanction Attorneys, Others Expanded by New Appellate Ruling

As Published in the Daily Business Review

An Op-Ed featuring analysis from Tripp Scott's Chuck Tatelbaum and Corey Cohen

While it has been long recognized that bankruptcy courts have the power to sanction attorneys and litigants pursuant to Rule 9011 of the Bankruptcy Rules of Procedure (a rule that is almost identical in substance to Rule 11 of the Federal Rules of Civil Procedure), a recent appellate ruling clarifies and expands the power and authority of bankruptcy courts to sanction attorneys and litigants based upon the inherent power of the bankruptcy court as well as the broad authority granted by Section 105(a) of the Bankruptcy Code. 

Critical Drafting Considerations for LLC Members' Operating Agreements

SPECIAL REPORT featuring analysis from Tripp Scott's Paul O. Lopez and Brittany Hynes

As Published in the Daily Business Review

If an operating agreement is in place and not drafted correctly, the parties could inadvertently broaden this narrow exception under Florida law and create avenues for direct claims by and between one another which are not generally available to them under the Florida Revised Limited Liability Company Act (the Revised LLC Act).

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