Divided Federal Circuit Disallows Recovery Of Interest As Damages
Client Alert | less than 1 min read | 10.14.04
Under the "a rose is a rose by any other name" theory, Judge Dyk for the majority in England v. Contel Advanced Systems, Inc. (Oct. 6, 2004) found the ASBCA had improperly granted interest as damages to the contractor when the Navy breached its obligation to reduce the contract price and so the contractor had had to borrow an inflated amount in order to perform. Judge Newman in dissent pointed out that the "no interest" rule dictated by sovereign immunity applies only when interest is requested on other damages, not when the basic damage itself is payment of interest.
Insights
Client Alert | 6 min read | 08.11.26
Over the past 18 months, the federal banking agencies have clarified supervisory expectations for banks’ crypto-asset activities, and several of the largest U.S. banks have announced programs accepting Bitcoin and Ether as loan collateral. Separately, on June 3, 2026, New York’s enactment of the 2022 amendments to the Uniform Commercial Code took effect, changing the rules governing the perfection of a security interest in digital asset collateral in New York, the jurisdiction whose law governs most institutional credit documentation. Together, these developments may create significant opportunities for lenders navigating the complexities to comply with the newly enacted statutes. This alert surveys the current landscape, from regulatory permissibility and perfection through custody, structuring, and compliance, for institutions active in this market or considering entering it.
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Missouri AG Sues Kansas City Over Race- and Sex-Based Contracting Program
