MAD cow disease - also known as Bovine spongiform encephalopathy (BSE) - ravaged Britain's cattle herds in the 1990s when millions of livestock were slaughtered. The killer disease spread to humans from infected beef, sparking widespread panic. And a new outbreak in Scotland shows it has not been eradicated. What is mad cow disease and what does BSE stand for? Bovine spongiform encephalopathy (BSE) is a fatal degenerative brain disease in cattle, similar to scrapie in sheep. It attacks the central nervous system - the brain and spinal cord - causing infected animals to lose muscle control. They become unsteady on their feet and also become aggressive, nervous or frenzied - leading to the name "mad cow disease". The exact cause is unknown but it is believed to be spread by prions, abnormally folded proteins which accumulate in the brain and kill nerve cells. There was a major outbreak in the UK beginning in the late 1980s. Ministers banned the practice of feeding cattle with bonemeal … [Read more...] about What is Mad Cow Disease, what does BSE stand for and are outbreaks of it dangerous to humans?
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World A neurological disorder that impacts cattle was found in a cow at a farm in Scotland. Mad Cow disease, otherwise known as bovine spongiform encephalopathy, rapidly spreads and damages the central nervous system of the infected cows and kills them, according to the Centers for Disease Control and Prevention. The disease causes erratic behavior among cows that are infected as it breaks down the tissues in their brains. The case found in Scotland was isolated, the BBC reported. It occurred on a farm near the Huntly area and after the case was discovered a movement ban was placed on the herd at the farm. The disease was found in an animal after it was dead but before it was turned into food or came in contact with other food for consumption, the BBC reported. There is still an investigation into where the disease could have originated. This case is one of less than 20 found in the United Kingdom since 2011. Tests are done regularly to check animals for the disease that can spread … [Read more...] about What Is Mad Cow Disease? Cow in Scotland Discovered With Illness
Insurance policies do not exist in a vacuum. Rather, they play a critical role in the management of a business’ risks. Also, they are among the many contracts that form a web of obligations and rights for the typical business. Routine corporate contracts and activities, as well as transformative events such as a merger or the sale of a business, may trigger insurance notice obligations or affect a policyholder's rights under its insurance contracts. In Part I and Part II of this series, we outlined some of the consequences that events such as a financial restatement or a change in corporate control may have on insurance coverage and why those impacts are better assessed early rather than later. We also discussed how seemingly minor differences in policy wording can result in gaps in coverage.In connection with the sale of business units or subsidiaries (whether through a stock purchase agreement or an asset purchase agreement) or corporate mergers, the failure to address the … [Read more...] about The Devil Is in the Details (Part III): The Risky Intersection between Insurance Coverage and Corporate Transactions
A federal judge in New York has called for an end to the “madness” caused by lawyers arguing over a contract to buy shares in a marketing company that installs supermarket kiosks.U.S. District Judge William Pauley III ruled that a Hong Kong investment company breached a contract to buy $21 million in stock in the kiosk company, BrandAid, even though BrandAid had misrepresented its financial condition, the New York Law Journal reports. Pauley said the investment company, Cyberian Enterprises, ratified the contract after it learned of the misrepresentations, so the contract was enforceable.Pauley concluded the opinion (PDF posted by law.com) with harsh words for the lawyers in the case.“This case presents a cautionary tale about the potential for advocates to obscure the issues and impose needless burdens on busy courts. The action began with a groundless application for preliminary relief. Incessant pretrial sparring, ad hominem attacks and a barrage of frivolous … [Read more...] about Judge Calls for End to Lawyers’ Obfuscation, Suit’s ‘Madness’
On Monday, June 27, 2016, the Supreme Court of the United States denied the petition for certiorari in Midland Funding LLC v. Madden, No. 15-610. The Supreme Court’s denial leaves intact the unusual – and troubling – decision by the U.S. Court of Appeals for the Second Circuit, Midland Funding, LLC v. Madden. In that case, the Second Circuit held that the application of state usury laws to nonbank assignees is not preempted by Section 85 of the National Bank Act (the “NBA”), but rather such assignees remain subject to state usury limits. The Second Circuit’s decision suggests that a nonbank assignee of a bank-originated loan might not be able to collect the amount of interest contracted for by the originating national bank if the rate of interest exceeds the usury rate otherwise applicable to the assignee.To understand the import of the Madden decision, it is critical to appreciate the complex patchwork of restrictions that … [Read more...] about Supreme Court Denies Usury Case: It’s a Mad, Mad, Madden World