Doing Business in Florida Blog

Income Share Agreements and Higher Education

July 11, 2018
James Sattin  |  Education, Higher Education, Income Share Agreements

Knowledge is power. But what is knowledge worth? The Income Share Agreement (“ISA”), an old idea but increasingly popular financing model for higher education in America, is attempting to provide an answer. If one considers that the ISA market (both direct and secondary) is expected to rise to billions of dollars in just a few years, ISAs are worthy of

What Now? LIBOR to be Phased Out by 2021

June 28, 2018
Joshua B. Brandsdorfer  |  Financial Institutions, Financial Services Regulatory

The United Kingdom Financial Conduct Authority has announced it will phase out the London Interbank Offered Rate (LIBOR) by 2021, putting an end to the governing global borrowing index which, for the last 50 years, has supported trillions of dollars in financial instruments. LIBOR is a figure determined daily by a select group of creditworthy

The Business of Marijuana and How it Will Affect the Real Estate Market

June 26, 2018
Jeffrey R. Margolis  |  Real Estate

Florida, along with 28 other states, have legalized marijuana for medicinal purposes. In addition, nine states and the District of Columbia have legalized marijuana for recreational use. The growth of the legal cannabis industry is proving to be big business, not only for growers and sellers, but also for owners of real estate serving the industry. The

Hurricane Preparedness Should Include a Plan to Protect Critical Data from a Security Breach

June 21, 2018
Gina Clausen Lozier  |  Hurricane Preparedness, Insurance

As hurricane season resumes for 2018, businesses should prepare for disruptions to networks, critical databases, as well as electrical power sources, telecommunications systems, and other utilities which can compromise or destroy critical infrastructure and trigger significant losses. Businesses should also take stock of their insurance coverages and

Wind-Driven Rain Insurance Coverage: A Post-Irma Review

June 21, 2018
Christopher B. Choquette  |  Hurricane Preparedness, Insurance

Over the last few years, Florida policyholders have seen an increasing trend of insurance companies relying on wind-driven rain exclusions. Many policies now exclude rain damage to the interior of a home or business unless an “opening” first occurs in the roof from wind or hail. Commonly, the insurance company will argue it is an insured’s burden to prove

Hurricane Damage Caused by Flying Debris. Who’s Liable?

June 21, 2018
Nicole Levy Kushner  |  Dispute Resolution, Hurricane Preparedness

The 2018 hurricane season has officially arrived. Damage caused by flying debris is one of the major threats associated with a hurricane. Securing loose items on your property should be part of your standard preparation when a high wind storm is approaching. But what happens when an item becomes a flying projectile during a storm causing damage to yours

Repairing Your Home or Business After a Hurricane: Know Building Code Requirements

June 21, 2018
Jeffrey Scott Bartel  |  Government and Regulatory, Hurricane Preparedness

Whether you ride out the next hurricane or evacuate to a safer location, invariably one of the first things property owners will do after the storm is inspect their homes and business locations that were in the hurricane's path for damage. Prior to the storm, it is, of course, prudent to record “time-stamped” photos and videos of the interior and

We’re All in This Together

June 19, 2018
Melanie Ann Hines  |  Dispute Resolution, Government and Regulatory, Hurricane Preparedness, Price Gouging

When the Governor declares a storm-related state of emergency, normalcy is suspended. Everyone rushes to stock up on batteries, food, water, ice, and lumber for “boarding up.” Gas stations become parking lots. ATMs run out of cash. Some people flee to hotels; others rent storage facilities for their possessions. For days on end, we are all focused on “the

Irma by the Numbers: The Claim Count Continues to Grow

June 17, 2018
Christopher B. Choquette  |  Hurricane Preparedness, Insurance

On June 12, 2018, the Office of Insurance Regulation (“OIR”) released an update on Hurricane Irma claims data received by insurers. The total number of reported Hurricane Irma claims has reached 978,767 with losses totaling an estimated $9,701,252,056. Of those claims, OIR reports that 823,733 are for residential properties and 58,544 for commercial

Are You Caught in the Storm?: What Bankruptcy Trustees Need to Know About Hurricane Claims

June 17, 2018
Ilyse M. Homer  |  Bankruptcy Litigation, Hurricane Preparedness, Insurance

On the heels of last year’s Hurricane Irma, everyone is mindful about the upcoming 2018 hurricane season. Last year, Hurricane Irma hit Florida and left about 65% of the state without power. In the months following the storm, businesses in the affected areas often struggled to recover, and it was a more difficult process for some more than for others.

Environmental Insurance Coverage: Now you have it – now you don’t

June 14, 2018
Dawn M. Meyers and Gina Clausen Lozier  |  Environmental, Insurance

In the transactional world, it has long been standard operating procedure to conduct due diligence and, should environmental conditions be found, contract around them through the use of indemnifications.  With a booming economy, though, sellers in a seller’s market have grown less willing to offer indemnification, pushing buyers into the realm of

Business Owners Beware: Defenses to the Big Bad Bankruptcy Trustee’s Suit Against Your Business for Fraudulent Transfers (Part II)

June 12, 2018
Ashley Dillman Bruce  |  Bankruptcy Litigation, Fraud/Securities Litigation

This article continues from a previous article by this author, available here: Your business now faces an adversary complaint filed by the bankruptcy trustee. The complaint has several counts alleging that your business received fraudulent transfers of assets from a debtor in bankruptcy. The complaint alleges two types of fraudulent transfers. The first