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Results: 1-10 of 67

Insurers granted relief from automatic stay to pursue a coverage action against Federal-Mogul Global

  • Wiley Rein LLP
  • -
  • USA
  • -
  • May 17 2007

In an April 24, 2007 order, the United States Bankruptcy Court for the District of Delaware granted certain insurers' motion for leave to pursue a coverage action against the debtor, Federal-Mogul Global, Inc., in New York state court regarding the debtor's asbestos liability

Federal court exercises jurisdiction over insurer’s declaratory judgment action arising out of FDIC demand

  • Wiley Rein LLP
  • -
  • USA
  • -
  • December 17 2012

The United States District Court for the Eastern District of California, applying California law, has concluded that it should exercise jurisdiction under the federal Declaratory Judgment Act to determine the availability of coverage for a written demand and has held that the related coverage action should not be stayed in favor of potential future underlying litigation between the Federal Deposition Insurance Corporation (FDIC) and the insureds because the outcome of the coverage litigation would not be dependent on resolution of disputed facts in such a future action

Congoleum bankruptcy court refuses to approve insurer settlement

  • Wiley Rein LLP
  • -
  • USA
  • -
  • May 17 2007

In the ongoing bankruptcy action involving the Congoleum Corporation (Congoleum), the bankruptcy court refused to approve a settlement and policy buyback between Congoleum and one of its insurers, ruling that the lack of creditor support for the settlement and the lack of evidence regarding the volume and type of claims covered by the settlement precluded the court's ability to approve the settlement

Insolvency exclusion bars coverage for claims due to underfunded employee benefit plans

  • Wiley Rein LLP
  • -
  • USA
  • -
  • December 7 2011

A federal district court, applying Pennsylvania law, has held that the insolvency exclusion in an insurance agency’s professional liability policy excused the insurer from the duty to defend the agency in lawsuits alleging that it had caused employee benefit plans that it created to be underfunded

Excess insurer entitled to recover partial refund paid by trustee to primary insurer following policy limits settlement with primary insurer

  • Wiley Rein LLP
  • -
  • USA
  • -
  • May 19 2010

Applying Texas law, the United States Bankruptcy Court for the Northern District of Texas has held that a primary insurer that "exhausted" its policy limits by agreeing to pay the insured's bankruptcy estate its remaining policy limits, while stipulating that a significant portion of this payment would be returned to the insurer by the estate's bankruptcy trustee, was required to reimburse the excess insurer the value of the returned payments made by the trustee

Bankruptcy Appellate Panel affirms relief from automatic stay for payment of director's defense costs

  • Wiley Rein LLP
  • -
  • USA
  • -
  • February 25 2010

The Bankruptcy Appellate Panel of the Ninth Circuit has affirmed the bankruptcy court's grant of a motion by a debtor's sole director to modify the automatic stay to allow payment of defense costs under the A-side coverage of the debtor's directors and officers liability insurance policy

Controlling shareholder’s bankruptcy does not render entity insolvent; fraud claim uninsurable as a matter of law

  • Wiley Rein LLP
  • -
  • USA
  • -
  • April 9 2013

Applying Minnesota law, a federal district court has held that, where an entity's principal shareholder was insolvent, but the entity was not, the

Court declines to address whether policy proceeds are part of estate when coverage litigation is pending

  • Wiley Rein LLP
  • -
  • USA
  • -
  • December 12 2007

The United States District Court for the Southern District of Texas, applying federal law, has reversed a bankruptcy court's ruling that the proceeds of an E&O liability policy were property of a bankruptcy estate

Federal district court reverses bankruptcy court ruling allowing appointment of “special insurance counsel”

  • Wiley Rein LLP
  • -
  • USA
  • -
  • April 28 2008

The United States District Court for the Central District of California has reversed a bankruptcy court ruling allowing two law firmsSnyder Miller & Orton LLP (SMO) and Morgan Lewis & Bockius LLP (MLB)to serve as "special insurance counsel" to address insurance and insurance-coverage-litigation-related matters under the narrow special purpose standards of 327(e

Suit for misuse of investment funds does not allege act in performance of “mortgage broker services” within definition of “insured services”

  • Wiley Rein LLP
  • -
  • USA
  • -
  • October 8 2013

The United States District Court for the Northern District of Texas has held that underlying claims that the insureds misused investment