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New York appeals court dismisses suit against MBIA Inc. over bond insurer’s financial restructuring
- Edwards Wildman Palmer LLP
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- USA
- -
- January 25 2011
A New York appeals court recently dismissed one of two lawsuits filed against MBIA Inc. (“MBIA”) by more than a dozen major financial institutions concerning the bond insurer’s financial restructuring
High Court approves scheme of arrangement for German companies
- Edwards Wildman Palmer LLP
- -
- Germany, United Kingdom
- -
- December 21 2010
On 14 December 2010 the English Court sanctioned four connected schemes of arrangement for German companies in the Tele Columbus group
During hearing to consider Ambac’s rehabilitation plan, insurance regulator reveals that liquidation of the bond insurer was considered
- Edwards Wildman Palmer LLP
- -
- USA
- -
- November 23 2010
As we first covered here, Ambac Financial Group Inc., the parent of the ailing Wisconsin-domiciled bond insurer Ambac Assurance Corp., filed for Chapter 11 bankruptcy relief with United States Bankruptcy Court for the Southern District of New York on November 8, 2010
Scottish Lion - waiver of privilege by creditor participating in scheme of arrangement
- Edwards Wildman Palmer LLP
- -
- United Kingdom
- -
- November 11 2010
In another instalment of the Scottish Lion saga (see our previous blog entries here, here and here) the Outer House of the Court of Session (the Scottish First Instance Court) has ruled that where a scheme creditor submits documents in support of his claim for voting purposes at the creditors' meeting convened to approve a scheme of arrangement, he is deemed to have waived any privilege there might have been in such documents
Lehman English administrators to appeal Court of Appeal ruling
- Edwards Wildman Palmer LLP
- -
- United Kingdom
- -
- September 16 2010
It is reported in the press that the PWC administrators of Lehman Brothers International (Europe) Limited (LBIE), the London-based arm of the Lehman bank, are to appeal the recent Court of Appeal ruling relating to the distribution of segregated client funds
Court rules D&O policy’s Side-A benefits not property of bankrupt estate
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 9 2010
A Maryland bankruptcy court has declared that Side A benefits under a D&O policy are not property of the bankrupt estate, with the result that two former executives who have been accused of making illegal payments and diverting funds from their former employer to start a new venture may be able to recoup certain defense costs
Delaware Bankruptcy Court rules that directors & officers may access eroding policy despite company’s bankruptcy
- Edwards Wildman Palmer LLP
- -
- USA
- -
- July 22 2010
A federal judge has ruled that directors and officers of a company in bankruptcy proceedings may continue to access an eroding liability policy to cover their defense costs
Court holds coverage for Madoff suits excluded under policy’s insolvency exclusion
- Edwards Wildman Palmer LLP
- -
- USA
- -
- June 8 2010
The US District Court for the District of Connecticut recently dismissed a customer suit against an insurer, based upon its determination that all of the underlying claims were excluded by the policy's Insolvency Exclusion
English High Court decides that a non-creditor can be established as a "victim" of a transaction at an undervalue
- Edwards Wildman Palmer LLP
- -
- United Kingdom
- -
- January 7 2010
In Clydesdale Financial Services Ltd and others v Robert Smailes and others 2009 EWHC 3190 (Ch), the principal issues before the Court were whether the third claimant, Focus Insurance Company Ltd (Focus), had a real prospect of success in its claims to be, first, a creditor (under the Insolvency Act 1986) of the fifth defendant, Alexander Samuel LLP (LLP) in respect of unpaid premiums and, second, a "victim" under ss.423-425 of the Insolvency Act 1986 of the sale of LLP's business to Jiva Solicitors LLP (Jiva) effected around the same time as it went into administration
Current Search
- Workarea - Litigation
- Workarea - Insolvency & Restructuring
- Author - Jeanne Kohler
- Author - Victoria Anderson