COVID-19 is clearly having, and will continue to have, a lasting impact on the securities industry. The pandemic has now negatively impacted almost all industries, some more than others. Airlines, hospitality, restaurant, oil, and general retail businesses have suffered inordinate losses. But just because the market at large has suffered, does not mean that you should have suffered comparably. In fact, depending upon your age, net worth, and risk tolerance, you may have needlessly suffered altogether.
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WILL BUSINESS INTERRUPTION INSURANCE COVER MY BUSINESS FOR LOSSES SUSTAINED FROM THE CORONAVIRUS PANDEMIC? This analysis begins, of course, with the assumption that you have an insurance policy which provides some type of “business interruption” coverage, either through the main policy, or an endorsement thereto, for business losses sustained from a covered event. If a policy exists which includes this coverage, interpreting the language in question will be critical. Sometimes the language is clear, sometimes not. Ambiguities in the policy are customarily construed against the insurance company.
As the world wrestles with the medical and social issues of how to deal with the COVID-19 pandemic, the legal and financial aftermath looms perhaps even larger. Eventually, medicine, governmental intervention, and the public spirit will defeat the disease hopefully within weeks or months, but the effects on our lives, businesses, and investments could last considerably longer. Byrd Campbell—whose motto “Byrd Campbell Means Business” embodies our mission—is a law firm dedicated to serving businesses. Already our clients have raised concerns about the unfolding but unfathomable consequences of how COVID-19 has turned or will turn their business lives upside down. Over the coming days, the firm will publish a series of blog posts addressing those issues looming on the horizon, identifying the points of consideration, and offering possible solutions. The first Byrd Campbell blog installment addresses the question:
There's a legal battle brewing between one of the most recognizable faces behind the new $750 million Margaritaville Resort Orlando and its ownership group. Jim Bagley, the prominent developer of the 320-acre tourist destination in Kissimmee and officer with Ace Hospitality LLC, a vacation ownership management company and furniture provider for Margaritaville's vacation cottages, filed a lawsuit on Oct. 3 via Osceola County's circuit court alleging wrongdoings by several related entities as well as some that appear related to Boca Raton-based Falcone Group, the ownership entity of Margaritaville Resort Orlando.
An email with a headline-grabbing subject line – “Media Alert: Health Care Fraud in Brevard County” – began appearing in inboxes from Titusville to Palm Bay on Aug. 27. The email purported to be from Dr. Craig Deligdish, president of OMNI Healthcare, a physician who has a tangled and litigious history with Health First. But the target of this email wasn’t Brevard’s healthcare giant; it was its smaller competitor, Parrish Medical Center, with whom OMNI has a relationship.
BYRD CAMPBELL BRINGS LAWSUIT AGAINST CITY OF ORLANDO AND ORLANDO CITY SOCCER STADIUM FOR CONSTRUCTION DAMAGE
Vibration from Orlando City Stadium construction damaged high-tech business next door, lawsuit says A high-tech business that makes crystal and silicon lenses for fighter jets and tanks was all shook up over construction of the Orlando City Stadium across the street — and now it’s suing the soccer team, [...]
By Tucker H. Byrd Co-Founder of Byrd Campbell, P.A. Lawsuits can be a monster distraction, a waste of resources, and threat to the existence of a business. Yet, almost inexplicably, businesses often engage in conduct, which is guaranteed to get them sued. Bear in mind that the lawyers representing plaintiffs who [...]