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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
United States | Publication | March 2021
On February 4, 2021, a state court of appeals panel held in Alvarez v. Altamed Health Services Corp. that an arbitration agreement's appellate arbitral review provision was substantively unconscionable because it favored the employer. While the provision in question provided that either party could seek appellate review of an initial arbitration award by a second arbitrator, in practice, only the employer was likely do so, thus "unilaterally adding costs and time to the arbitration proceeding by seeking this review and thereby maximizing the employer's status as the better resourced party."
However, the court held the appellate arbitral review provision severable as the employee failed to establish any other instance of substantive unconscionability. The court rejected the employee's arguments that the employer's failure to provide a Spanish translation of the arbitration agreement (where the employee preferred, but did not require, the translation) and failure to attach the AAA rules (absent a challenge to a specific AAA rule) were substantively unconscionable. Consequently, the court held the arbitration agreement to be enforceable, reversing the trial court's order. So, in addition to providing guidance on appellate arbitral review provisions, this is a nice case to keep in your back pocket when an employee throws everything but the kitchen sink in opposition to your motion to compel arbitration.
Publication
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
Publication
On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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