We use cookies to customise content for your subscription and for analytics.
If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.

Search results

Order by: most recent most popular relevance



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


Georgia bankruptcy court: FDIC may sue officer of failed bank, notwithstanding his bankruptcy, if defense and recovery limited to D&O insurance
  • Wiley Rein LLP
  • USA
  • August 28 2012

A Georgia bankruptcy court has held that notwithstanding the discharge of an individual in his individual bankruptcy proceeding, the Federal Deposit Insurance Corporation (FDIC) may file suit against the individual as a former officer of a failed bank so long as the applicable D&O policy covers defense costs and the FDIC’s recovery is limited to insurance proceeds


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


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


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


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


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


Congoleum bankruptcy court refuses to approve insurer settlement
  • Wiley Rein LLP
  • USA
  • May 17 2007

In the ongoing bankruptcy action involving the Congoleum Corporation (Congoleum), the bankruptcy court refused to approve a settlement and policy buyback between Congoleum and one of its insurers, ruling that the lack of creditor support for the settlement and the lack of evidence regarding the volume and type of claims covered by the settlement precluded the court's ability to approve the settlement


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