Massachusetts residents understand the need to have insurance contracts that provide adequate coverage for disasters and the importance of having the terms of the contracts carried out. United States-based insurer, HCI, has won a breach of contract dispute that it filed against Aon Benfield (AON). According to HCI, in 2009, it signed a revenue sharing agreement (RSA) with AON. AON helped HCI secure reinsurance coverage for catastrophes like hurricanes and, in turn, received fees from the reinsurers. When HCI signed with another intermediary the following year, AON refused to pay HCI the amounts it owed under the 2009 RSA.
Once a parent falls behind on child support payments, it can be difficult to be brought current. Life changes, lost jobs or simply an inability to pay are all reasons that child support payments may dwindle or cease altogether. In such a situation, Central Massachusetts family law attorneys can assist both the recipient and parent ordered to pay child support in reaching a resolution that can benefit all parties.
Most of people in Worcester are fortunate enough to never experience the painful struggle of home foreclosure. With the stigma of financial failure attached to every foreclosure petition, some people never recover from the emotional and financial challenges associated with losing their homes. Over the last decade, an unprecedented number of individuals have been subject to this unpleasant fate.
Massachusetts residents may have heard about an airline that has brought a case to the Supreme Court in regards to whether airline companies should be protected from lawsuits during cases of mistaken security threat reports. The case concerns a pilot who the airline had mental health concerns about. The pilot was a passenger on a flight, and the airline reportedly believed that he might be a threat to the safety of the other passengers. The Supreme Court will hear arguments on whether airline should have the same protection as the Transportation Security Administration when it comes to reporting threats so that it can avoid any cases of business litigation.
In the last few months this blog has focused on changes in the traditional residential real estate market. Here in Massachusetts buyers are finding housing prices beginning to rise and sellers are benefitting from competition over few available properties. While some people are able to buy their dream homes from the available pool of traditional sale homes, others are forced to look at alternative markets.
Multi-billionaire and chief executive officer of News Corp., Rupert Murdoch recently announced that he filed for divorce from his wife. At this point, it is unclear whether or not Murdoch's wife signed a prenuptial agreement prior to the marriage, or if she did, what assets she gets during the divorce. What is clear is that Massachusetts business owners have more issues to consider during their divorce.
Selling a home can be a stressful experience. Here in Massachusetts where the prices of homes can easily push over high six figures, entering into a real estate transaction can feel more like a serious business deal than a personal decision to move out of a family home. While one person may confidently endeavor to handle the details of a transfer of property alone, another real estate owner may want to utilize the skills of a real estate professional when negotiating such a sale.
The discovery of genetically-altered wheat growing in an Oregon field has prompted wheat farmers across the United States to seek legal action against Monsanto, the company renowned for its development of the herbicide-resistant wheat. Wheat growers in Massachusetts as well as across the US are initiating business litigation against the corporate giant, claiming that Monsanto's negligence in the matter will likely drive down US wheat export prices.
When Massachusetts parents decide to divorce, the safety and wellbeing of their children often comes first. Parents want to do what is best for their children and will often fight to make sure that happens. While family law courts will decide Massachusetts child custody cases in the best interest of the children, there can be some debate about what is really in their best interest.
Some people in and around Worcester may be wondering if now is the right time to get into the housing market. They may not know if current residential real estate prices are reasonable or if there is any chance that interest rates will dip lower. With much uncertainty surrounding the sale and purchase of real estate, consumers may be looking for some guidance as to what the near future holds.
The Mall at Whitney Field, a Massachusetts mall foreclosed upon in 2010, has been purchased by Vintage Real Estate in a commercial real estate sale. The Mall at Whitney Field was first built in 1967 and was sold last in 2007 for $82 million. However, the lender was forced to foreclose upon the loan in 2010 with $72.2 million remaining on the balance. There are many valuable retailers located on the premises, including Sears, Macy's, Burlington Coat Factory and Old Navy.
Divorcing Massachusetts couples have a lot of considerations they must make before their divorce can be finalized. As any Massachusetts divorce attorney knows, one of the most important issues are those surrounding the division of property. Property division disputes arise when people need to decide which person is going to take which assets and debts following the divorce. Property division issues are extremely important since after the divorce each person will be starting a new and independent financial life.