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Results: 1-10 of 67

Judgment creditor collaterally estopped by default judgment against insured
  • Wiley Rein LLP
  • USA
  • May 20 2013

The United States District Court for the Northern District of Georgia, applying Georgia law, has held that a default judgment against an insured in a


Insured's voluntary lifting of automatic stay does not violate policy's cooperation clause
  • Wiley Rein LLP
  • USA
  • August 4 2009

The United States District Court for the Eastern District of New York, applying New York law, has held that an insured did not violate an insurance policy's cooperation clause when it agreed, without providing advance notice to the insurer, to lift the automatic bankruptcy stay with respect to certain personal injury actions filed against it


Upon appointment of FDIC as receiver, coverage under D&O policy ceased but policy was not automatically terminated
  • Wiley Rein LLP
  • USA
  • January 5 2010

The United States District Court for the District of Kansas, applying Kansas law, has held that a D&O policy issued to a bank was not automatically canceled or terminated when the FDIC was appointed as the bank’s receiver but that coverage under the policy ceased


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


Sixth Circuit finds no bankruptcy exception to prohibition against direct actions in Tennessee
  • Wiley Rein LLP
  • USA
  • February 24 2014

The Court of Appeals for the Sixth Circuit held that no exception exists to Tennessee's general prohibition on direct actions against an insurer


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


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


Asbestos bankruptcy channeling injunction cannot reach direct actions based on independent duty of insurer, Second Circuit rules
  • Wiley Rein LLP
  • USA
  • February 22 2008

The United States Court of Appeals for the Second Circuit has ruled that the Johns-Manville bankruptcy court did not have jurisdiction to enjoin direct action claims asserted against Travelers entities that are predicted on an independent duty owed by Travelers, that do not claim against the res of the Manville estate, and that seek damages unrelated to and in excess of Manville's insurance proceeds


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 Code preempts policies’ anti-assignment clauses such that transfer to Section 524(g) trust is allowed
  • Wiley Rein LLP
  • USA
  • March 25 2008

Bankruptcy Judge Judith Fitzgerald ruled last week that a debtor's insurance policies are assets of the estate and, therefore, can be properly transferred to a 524(g) trust notwithstanding any applicable anti-assignment clauses