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Results: 1-10 of 67

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


Bankruptcy Court lifts automatic stay to allow insurers to pay defense costs
  • Wiley Rein LLP
  • USA
  • April 26 2012

The United States Bankruptcy Court for the Southern District of New York has lifted the automatic stay in bankruptcy to permit D&O and E&O insurers to advance or reimburse insured directors,’ officers’ and employees’ reasonable defense costs incurred in underlying litigation arising out of the insured company’s collapse


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


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


Second Circuit affirms application of prior litigation exclusion
  • Wiley Rein LLP
  • USA
  • June 12 2009

In an unpublished summary order applying New York law, the United States Court of Appeals for the Second Circuit has affirmed a district court's judgment finding that many of the factual allegations asserted in a complaint against the directors and officers of the bankrupt policyholder were excluded by a prior litigation exclusion, even though some of the excluded losses accrued during time periods not at issue in the prior litigation


Professional liability policy proceeds not property of bankruptcy estates
  • Wiley Rein LLP
  • USA
  • 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


Policyholder’s bankruptcy does not relieve insurer’s obligations for “loss”
  • Wiley Rein LLP
  • USA
  • March 10 2014

The Court of Appeals of Wisconsin, applying Wisconsin law, has held that a policyholder's bankruptcy did not relieve an insurer of its obligations to


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


Priority of payments provision allows insurer to make settlement payments on covered claims against directors and officers
  • Wiley Rein LLP
  • USA
  • October 25 2012

The United States Bankruptcy Court for the District of Nebraska has held that an insurer may make settlement payments for claims against a debtor’s directors and officers where any claims of the debtor are subordinate to those of the directors and officers under the terms of the policy


Unfair Trade Practices exclusion inapplicable to claims arising under fair debt collection statutes; statutory damages covered
  • Wiley Rein LLP
  • USA
  • July 17 2013

The United States District Court for the Middle District of Pennsylvania has held that an E&O policy issued to a now-bankrupt credit counseling