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Judgment Against Insured Is Conclusive Proof Of Amount Of Claim Against Dissolved Insurer- Commonwealth Ex Rel. Woodside V. Seaboard Mut. Cas. Co., Michigan Law Review May 1965

Judgment Against Insured Is Conclusive Proof Of Amount Of Claim Against Dissolved Insurer- Commonwealth Ex Rel. Woodside V. Seaboard Mut. Cas. Co., Michigan Law Review

Michigan Law Review

Plaintiffs, injured in an automobile accident, brought suits against an insured taxicab company. Before the case came to trial, the insurance commissioner found the insurer insolvent. In a separate proceeding he obtained a court order dissolving the insurer, enjoining the prosecution of any legal action against the insurer's assets, and providing for the filing of proof of claims with the insurance commissioner. The insurer's attorney, who had entered an appearance on behalf of the taxicab company, withdrew, and in an undefended action the plaintiffs recovered judgments against the cab company totalling nineteen thousand dollars. Unable to obtain execution on these …


Federal Law Held To Govern Effect Of The Release Of A Joint Tortfeasor In Private Antitrust Suit-Winchester Drive-In Theatre, Inc. V. Twentieth Century Fox Film Co., Michigan Law Review May 1965

Federal Law Held To Govern Effect Of The Release Of A Joint Tortfeasor In Private Antitrust Suit-Winchester Drive-In Theatre, Inc. V. Twentieth Century Fox Film Co., Michigan Law Review

Michigan Law Review

Private antitrust litigation occasionally raises the question of whether state or federal law should be applied to determine the effect of the release of a joint tortfeasor. When federal law is applied, as it was in Winchester Drive-In Theatre, Inc. v. Twentieth Century-Fox Film Co., there remains the necessity of formulating a rule of federal law, since there appears to be no established federal rule governing releases in antitrust suits.


Sabbatino Doctrine Modified In Foreign Assistance Act Of 1964, Michigan Law Review May 1965

Sabbatino Doctrine Modified In Foreign Assistance Act Of 1964, Michigan Law Review

Michigan Law Review

Prior to Banco Nacional de Cuba v. Sabbatino, one of the United States Supreme Court's most controversial recent decisions touching on matters of international law, it had been held that American courts could not question titles to property acquired by virtue of a public taking decreed by a recognized foreign government and carried out within its territory. This concept of judicial abstention, embodied in the "act of state doctrine," was held applicable in Sabbatino even though it was alleged that the asserted claim to the property stemmed from a confiscation that violated customary international law. This decision led Congress …


Proof Of Scienter Necessary In A Private Suit Under Sec Anti-Fraud Rule 10b-5, Michigan Law Review Apr 1965

Proof Of Scienter Necessary In A Private Suit Under Sec Anti-Fraud Rule 10b-5, Michigan Law Review

Michigan Law Review

Of the vast amounts of statutory and quasi-statutory material governing the securities business, the Securities and Exchange Commission's rule 10b-51 has potentially the greatest direct importance to the largest number of people. While several provisions in the government's regulatory scheme set more or less specific standards of conduct for securities issuers, broker-dealers, or corporate insiders, the anti-fraud provisions of rule 10b-5 apply to all persons directly or indirectly connected with any sale or purchase of securities transacted through a facility of interstate commerce, the mails, or on a national exchange. In its three clauses, rule 10b-5 forbids any person (1) …