Supplemental Comments on Federal Power Act Section 203 Blanket Authorizations for Investment Companies (SIFMA AMG)
SIFMA AMG provided comments to the Federal Energy Regulatory Commission replying to certain comments filed in the Notice of Inquiry…
Court:
New York Court of Appeals
(in support of motion for leave to appeal)
Amicus Issue:
Whether it was proper for the Appellate Division to apply the Kokesh decision concerning a federal statute of limitations (SOL) to determine the availability of insurance coverage under state law, where the applicable insurance standard of insurability – whether a payment has any compensatory purpose – is exactly the opposite of the federal SOL standard – whether a payment has any penal purpose. Whether it was proper for the Appellate Division to construe an insurance policy issued in 2000, and coverage for a settlement entered into in 2006, in accordance with a 2017 “change in the law” rather than pursuant to the state of the law and the parties’ understanding at the time (under which disgorgement was not considered a penalty).
Counsel of Record:
Covington & Burling LLP
Mitchell F. Dolin
Dustin Cho
Robert W. Jacques
Other Amici:
None
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