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Medicare Set-Asides: An Uncertain Legal Landscape
In their Trial Practice column, Robert S. Kelner, the senior partner at Kelner and Kelner, Gail S. Kelner. an attorney with the firm, and Joshua D. Kelner, an associate with the firm, write: "In recent years, Medicare has become the bane of the existence of lawyers who practice personal injury law, both on the plaintiff's and defendant's sides. The agency has claimed, through a handful of grossly ambiguous policy memoranda, that its purported "future interest" in settlements must be considered. As a result, so-called Medicare Set Asides—sometimes referred to as MSAs—have become increasingly prevalent."U.K. Law Firms Match Investment Banks on Trainee Pay, Survey Shows
Law firm trainees can now pocket amounts equal to graduate counterparts at investment banks, according to new research, with both camps taking home over �10,000 more than the U.K.'s average graduate starting salary. A new British survey shows graduates entering the legal profession received average pay of �35,500 in 2007. The results reflect significant pay raises for law firm juniors, while graduate salaries at investment banks dipped slightly from 2006's average of �36,000.Improving Medicare Set-Aside System
Although the statue authorizing Medicare set-asides was enacted in 1980 as part of an overall statutory scheme to ensure that the costs of medical services related to personal injuries are not borne by Medicare, at present, there is a dearth of regulatory guidance, leading not only to uncertainty for injured persons, attorneys and liability insurers on how to navigate the system, but to questions of whether a set-aside is necessary and what constitutes a sufficient set-aside.
Morgan Lewis on Hand as Shale Gas Goes Global
The Am Law 100 firm is working with CMS Cameron McKenna and leading Ukrainian firm Asters on a roughly $10 billion shale gas development deal signed between Royal Dutch Shell and the government of Ukraine last week at the World Economic Forum in Davos, Switzerland.Home Depot drops plan to buy EnerBank, cites retail focus
ATLANTA AP - The Home Depot Inc. has withdrawn an application to by a Utah bank, saying that the loan business no longer fits into its strategy of concentrating on its retail trade.The world's largest home improvement store chain announced in May 2006 that it would buy EnerBank USA, a home improvement loan provider, from CMS Energy Corp.CMS Cameron McKenna, Linklaters Advise on Hong Kong Tycoon's Latest U.K. Energy Acquisition
A consortium led by Li Ka-Shing's Cheung Kong Holdings Ltd. will pay $1 billion for MGN Gas Networks (U.K.) Ltd., doubling the size of Cheong Kong's British gas-transmission business.
1st Circuit considers Eighth Amendment challenge to delay in providing prisoner HIV medication
The U.S. Court of Appeals for the 1st Circuit recently heard arguments about whether Maine prison officials and the prison system's medical program violated a prisoner's constitutional rights by delaying his access to HIV drugs for 22 months.Trio of Law Firms Head Up BP's $5 Billion Oil Revenue Loan Deal
Linklaters has taken the lead role for BP as the oil giant moves to borrow $5 billion by pledging sales revenues from two oil fields. BP has raised the multibillion-dollar sum via a banking deal involving oil revenues from two separate fields in Azerbaijan and Angola, with Herbert Smith advising the arranging banks on the $3 billion Angola loan and Baker & McKenzie advising the banks on the Azerbaijan deal. BP is selling off global assets to finance the big cleanup bill from the Gulf of Mexico spill.Trending Stories
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