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Financial ruin and the duty to settle within policy limits
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • October 17 2013

A liability insurance company has the right to take over the defense of a policyholder and to control all settlement discussions. What happens if the

Delaware Supreme Court holds that dissolution statutes do not extinguish a dissolved corporation’s potential liability to third parties
  • Cahill Gordon & Reindel LLP
  • USA
  • December 13 2013

The Delaware Supreme Court recently offered new insight into a dissolved corporation's exposure to liability for third party claims. In Anderson v

“Covered or not covered: that is the question” - a discussion of directors & officers insurance coverage issues
  • Chadbourne & Parke LLP
  • USA
  • May 23 2011

It is important that directors and officers insurance provide the necessary protections

A guide to surviving the Lumbermens rehabilitation & liquidation
  • Dentons
  • USA
  • July 2 2012

In response to the July 2, 2012 Order of Rehabilitation, and an anticipated Order of Liquidation, against Lumbermens Mutual Casualty Company and American Manufacturers Mutual Insurance Company, we have prepared the following “frequently asked questions” guide summarizing issues related to: (i) the financial regulation of insurance companies; (ii) the liquidation and proof of claim process in Illinois; (iii) potential recovery by policyholders of the amount of “covered” workers’ compensation claims from state guaranty associations; (iv) policyholder collateral; and (v) planning a response to the Lumbermens liquidation

New York law applies to all claims in the Midland Insurance Company liquidation proceeding
  • Jorden Burt LLP
  • USA
  • March 17 2010

In this long-running legal saga surrounding the liquidation of Midland Insurance Company ("Midland"), the Superintendent of Insurance, Midland's reinsurers, and certain major policyholders stipulated to a case management order for determining the issue of whether New York substantive law controlled the interpretation of the Midland insurance policies at issue or whether the New York choice-of-law test must be conducted for each policy to determine the applicable substantive law

Insured vs. Insured exclusions in post-insolvency claims
  • DAC Beachcroft
  • USA
  • May 25 2016

A common query with D&O insurance coverage is whether post-insolvency claims against the insolvent company’s directors and officers trigger the

Are you Covered? The Insured v. Insured Exclusion
  • Weil Gotshal & Manges LLP
  • USA
  • May 31 2016

The availability of a debtor’s insurance policy can have a significant impact on its chapter 11 case. Indeed, in certain chapter 11 cases insurance

Claims bar dates impending for Atlantic Mutual, Centennial, HIH and Nassau Insurance Companies
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • July 31 2013

Several insurers in liquidation proceedings have upcoming claims bar dates: The liquidator for Atlantic Mutual Insurance Company and Centennial

Proceeds from insurance settlement outside the scope of Article 9
  • Spencer Fane LLP
  • USA
  • March 31 2015

The Bankruptcy Appellate Panel for the First Circuit recently held that a creditor holding a perfected security interest in accounts and payment

New York federal bankruptcy court finds insurance insolvency proceeding does not “reverse - preempt” bankruptcy court jurisdiction
  • Carlton Fields
  • USA
  • February 2 2016

In a recent adversary proceeding in the chapter 11 case involving Ames Department Stores, Inc. (“Ames”), Lumbermens Mutual Casualty Company