Loser Pays, Everybody Wins?
Tort reform is once again on the agenda for Tennessee legislators in 2012. Rather than rest on the success of the Tennessee Civil Justice Act of 2011, which capped non-economic and punitive damages at $750,000 and $500,000, respectively, and restricted claims that can be brought under the Tennessee Consumer Protection Act, the same group that pushed for those reforms is urging more legislation to be passed this session.
By Will We See More Business Bankruptcy Filings in 2012?
In January, the American Bankruptcy Institute released the results of a poll in which the majority of the respondents believed that business bankruptcy filings would increase by more than 10 percent in 2012. As has been written in this space before, an increase in chapter 11 business filings could actually be a good sign for the economy, showing that more businesses actually see a path back to profitability through reorganization.