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Results: 1-10 of 67

Bankruptcy court holds inadequate consideration exclusion bars coverage
  • Wiley Rein LLP
  • USA
  • December 16 2008

A federal bankruptcy court, applying New York law, has dismissed an adversary proceeding brought by a bankrupt home mortgage company against its directors' and officers' liability insurers, holding that coverage for a pre-petition lawsuit against the mortgage company was barred by application of an “inadequate consideration” exclusion


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


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


Unfair trade practices exclusion inapplicable to claims arising under fair debt collection statutes, statutory damages covered
  • Wiley Rein LLP
  • USA
  • June 11 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


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


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


Settlement agreement extends to later claims covered by scope of release
  • Wiley Rein LLP
  • USA
  • November 12 2012

The United States District Court for the Eastern District of Virginia, applying Texas law, has held that a settlement agreement resolving coverage litigation released the insurer’s obligation for defense costs for certain claims tendered for coverage under a subsequent policy


Trustees have no standing to object to disbursement of policy proceeds in interpleader action
  • Wiley Rein LLP
  • USA
  • July 20 2012

The United States Bankruptcy Court for the District of Delaware, applying federal law, has held that a Liquidation Trustee and a Litigation Trustee (the Trustees) did not have standing to object to the disbursal of policy proceeds in an insurer’s interpleader action because they had no existing claims or realistic potential claims for coverage under the policy


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