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The Life and Non-Life Insurance Acts (No. 3) were issued earlier this month. Their provisions make it substantially easier for permission for majority or total foreign ownership of insurers to be granted, and also regulate...more
D&Os Entitled to Unfettered Access to Bankrupt Company’s Policy Proceeds to Fund Defense Costs:
Why it matters -
In an important victory for directors and officers of a bankrupt company, a New York court...more
If a company files for bankruptcy, allegedly as a result of mismanagement, are claims brought by the bankruptcy trustee against the former management of the company covered by insurance?...more
Mary Melendrez et al., v. Superior Court of the State of California, County of Los Angeles -
COURT OF APPEAL, SECOND APPELLATE DISTRICT (April 30, 2013) -
Petitioners and Plaintiffs Mary Melendrez, individually and...more
This week Federal Insurance Company achieved an important victory in a long-standing insurance coverage litigation concerning the proper trigger of excess directors and officers insurance. DLA Piper represented Federal, a...more
In this opinion, the Court of Chancery denied a motion for judgment on the pleadings by certain asbestos claimants (the “Claimants”) seeking appointment of a receiver under 8 Del. C. § 279, holding that the dissolved...more
English law schemes of arrangement have become an increasingly debated topic in German law following some prominent cases in recent years. As far as Germany is concerned, the key question is whether schemes of arrangement...more
Bankruptcy and insurance law frequently intersect and sometimes conflict. This article addresses the most important of these intersections, including the ability of a debtor to satisfy insured claims by the assignment of...more
The Commonwealth Court of Pennsylvania has rejected the efforts of the Pennsylvania Insurance Department (PID) to liquidate two long-term care insurance (LTCI) companies domiciled in Pennsylvania. The ruling in Consedine v....more
Asset protection planning is a hot topic for many people. This article summarizes various asset protection planning strategies, short of filing for bankruptcy....more
Until last year, Ambac Assurance, a Wisconsin domiciled insurer, was one of the largest monoline insurers in the world. Originally it insured low-risk, public finance bonds. However, in the 1990s it started to offer...more
One commonly overlooked area a doctor’s personal planning is the possibility that you or a loved one
may need long-term care (LTC) as a result of age, illness, or accidents. In cases where such care is
Corporations purchase directors' and officers' liability insurance in an effort to recruit and/or retain top executives. Indeed, the fundamental purpose of D&O insurance is to protect directors and officers from personal loss...more
The decision to undertake a solvent runoff of an insurance line or company cannot be a routine business-as-usual decision, like moving the headquarters to Chicago or investing in new computers. A solvent runoff of an...more
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