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Defense of imputation of an agent’s bad conduct to its principal clarified in Pennsylvania; independent auditor at risk for $1 billion in damages

Reed Smith LLP
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USA
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September 13 2010

An independent auditor was sued by a nonprofit corporation's official committee of unsecured creditors, for breach of contract, professional negligence, and aiding and abetting a breach of fiduciary duty

Professional liability policy proceeds not property of bankruptcy estates

Wiley Rein LLP
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USA
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June 23 2011

The United States Bankruptcy Court for the District of Nevada has held that proceeds from a professional liability policy were not property of the insured-debtors' bankruptcy estate because the proceeds were payable only for the benefit of third party claimants and could not be accessed by the debtors directly

Seventh Circuit limits duties of fairness opinion provider to scope of engagement letter

Squire Sanders
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USA
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February 29 2008

Last week, the US Seventh Circuit Court of Appeals issued its opinion in The HA2003 Liquidating Trust v. Credit Suisse Securities (USA) LLC, a case arising out of the bankruptcy of HA-LO Industries, a manufacturer and marketer of promotional products that sought bankruptcy protection in July 2001 after a disastrous attempt to expand into e-commerce via the acquisition of Starbelly.com, a pre-revenue dot-com startup for which HA-LO paid US$240 million

Thabault v. Chait: completing the Third Circuit's deepening insolvency trilogy

Jones Day
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USA
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March 6 2009

When the United States Court of Appeals for the Third Circuit decided Thabault v. Chait, 541 F.3d 512 (3d Cir. 2008), in September 2008, it was the most significant accounting malpractice decision of last year and perhaps the most significant damages case in the last 20 years

Third Circuit upholds liability of PricewaterhouseCoopers in Ambassador insolvency

Edwards Wildman Palmer LLP
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USA
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October 7 2008

The United States Court of Appeals for the Third Circuit recently upheld a $182.9 million judgment against PricewaterhouseCoopers, LLP (“PWC”) for allegedly contributing to the failure of Ambassador Insurance Company (“Ambassador”) through negligent auditing

Search results

Defense of imputation of an agent’s bad conduct to its principal clarified in Pennsylvania; independent auditor at risk for $1 billion in damages

Professional liability policy proceeds not property of bankruptcy estates

Seventh Circuit limits duties of fairness opinion provider to scope of engagement letter

Thabault v. Chait: completing the Third Circuit's deepening insolvency trilogy

Third Circuit upholds liability of PricewaterhouseCoopers in Ambassador insolvency

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