In Leisure Recreation & Entertainment, Inc. v. First Guaranty Bank, the Louisiana Supreme Court found the voluntary pay doctrine to be in direct conflict with the Civil Code. In this action, the borrower was to make payments with interest accruing at 6.5% for years one through five of the loan, 7.5% in years six
Ballot Measure to Codify Longstanding Approach to CWIP
Construction Work in Progress (“CWIP”) is generally recognized as property that is in the process of changing from one state to another, such as the conversion of personal property from inventory to asset or fixture by installation, assembly, or construction. See Valuation of Machinery and Equipment Construction in Progress (CIP), Pollack and Meier, Institute
Eastern District of Louisiana Judge: Punitive Damages are Unavailable to Plaintiffs Injured on the Outer Continental Shelf as a Matter of Law
In 1953, Congress passed the Outer Continental Shelf Lands Act (“OCSLA”), 43 U.S.C. 1333, et seq. to provide a set of “comprehensive choice-of-law rules and federal regulation to a wide range of activity occurring beyond the territorial waters of the states on the outer continental shelf of the United States.” Important in OCS personal