1. Home
  2. |Insights
  3. |Don't Want a Setoff? Better Say It

Don't Want a Setoff? Better Say It

Client Alert | less than 1 min read | 07.13.10

In Global Ship Sys., Inc. v Dept. of Homeland Sec'y (CBCA June 25, 2010), the board held that a settlement payment owed by the government could be offset against a debt owed by the contractor on a separate contract, even though the settlement agreement expressly required the CO to "request" that the payment be made to Global's designated bank account. More explicit language is required to overcome the government's general right of offset.

Insights

Client Alert | 4 min read | 02.19.26

Proposed NY Legislation May Mean Potential Criminal Charges for Unlicensed Crypto Firms

On January 14, 2026, State Senator Zellnor Myrie proposed legislation in the New York State Senate that would amend New York law to make it a criminal offense to operate a virtual currency business in New York without the proper license. By introducing the possibility of criminal penalties, Senate Bill S. 8901, the Cryptocurrency Regulation Yields Protections, Trust, and Oversight Act (CRYPTO Act), would mark a significant regulatory shift in the state’s oversight of virtual currency businesses, given New York’s prominence in virtual currency regulation in the U.S....