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The Court of Appeal on D&O policies: the "Steigrad decision"

Chapman Tripp
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New Zealand
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February 14 2013

In the hectic run up to Christmas last year, we sent you a brief advisory note on the reversal by the Court of Appeal of the High Court's

Bridgecorp decision overturned

Gilbert + Tobin
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New Zealand
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January 17 2013

In a judgment that will be welcomed by both insurers and insureds, the New Zealand Court of Appeal has confirmed that, contrary to the first instance

Bridgecorp appeal: the latest on defence costs under a D&O policy and the application of a statutory charge

Clayton Utz
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Australia, New Zealand
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January 14 2013

Should companies purchase a defence costs only policy, separate to their D&O policy, to cover their directors and officers? This has been a live

Good news for directors and officers - successful appeal against Bridgecorp decision

Cooper Grace Ward
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New Zealand
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January 8 2013

An earlier judgment that suggested that directors may be unable to rely on Directors' and Officers' (D&O) liability insurance to fund defence costs has

Bridgecorp decision overturned by Court of Appeal of New Zealand

CMS Cameron McKenna
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New Zealand
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January 2 2013

On 20 December 2012 the Court of Appeal of New Zealand overturned the first instance decision in Steigrad v BFSL 2007 Limited (Bridgecorp), finding that a

New Zealand Court of Appeal overturns Bridgecorp decision

Colin Biggers & Paisley
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New Zealand
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December 20 2012

Today the New Zealand Court of Appeal delivered its judgment in Steigrad v BFSL 2007 Ltd & Ors COA CA6742011 20 December 2012. The Court of Appeal has

Appeal court overturns controversial liability insurance decision

Chapman Tripp
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New Zealand
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December 20 2012

Directors can take comfort from the Court of Appeal decision today overturning the High Court’s controversial interpretation of section 9 of the Law Reform Act 1936 in Steigrad & Ors v BFSL 2007 Limited & Ors

Duties of banker to its customer to not extend to collateral interests

Buddle Findlay
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New Zealand
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July 12 2012

The case of JoJaro Investments Limited v ASB Bank Limited involved a senior employee of an insurance company who stole nearly $4 million that the company had set aside to maintain its credit rating

Steigrad v BFSL 2007 Limited: defence costs precluded by statutory charge over insurance monies

Hunt & Hunt
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Australia, New Zealand
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November 29 2011

A decision in this matter was handed down by the New Zealand High Court on 15 September 2011 that may have significant ramifications in Australia

D&O insurance policies: will your defence costs be covered?

Bell Gully
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New Zealand
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October 5 2011

In a recent High Court decision concerning a claim by the receivers of Bridgecorp against the Bridgecorp directors, the court ruled section 9 of the Law Reform Act 1936 gave Bridgecorp a charge over all insurance money payable under a directors and officers (D&O) liability insurance policy, and that the charge had priority over any claim by the Bridgecorp directors to defence costs under the policy

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