Bankruptcy Insurance Civil Procedure

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Real Property, Financial Services, & Title Insurance Update

Foreclosure: reservation of jurisdiction in final judgment to determine amount of attorneys’ fees renders that portion of judgment non-final and non-appealable – BAC Home Loans Servicing LP v. Ridgway, No. 1D13-3853 (Fla. 1st...more

Amlin v Austcorp – It’s all in the wording

In Amlin Corporate Member Ltd v Austcorp Project No 20 Pty Limited [2014] FCAFC 78, the Full Court of the Federal Court rejected the insurers’ argument that certain policies did not respond because the claim was made before...more

Did The Supreme Court Finally Explain Marathon And Stern? - Executive Benefits’ Impact on Bankruptcy Court Jurisdiction

The Supreme Court has spoken once again on the limited jurisdiction of the bankruptcy courts, adding to the understanding derived from Northern Pipeline Constr. Co. v. Marathon Pipe Line Co., 458 U.S. 50 (1982),...more

Garlock: Lifting the Veil on Asbestos Trust Claims

Over the past four decades the landscape of asbestos litigation has been changing, influenced in large part by many asbestos defendants filing for bankruptcy. In search of solvent defendants, plaintiffs’ attorneys expanded...more

Insurance Recovery Law - May 2014

New York Court Strictly Applies Draconian Policy Language, Holding Excess Coverage Forfeited By Settling With Underlying Insurers For Less Than Policy Limits - Why it matters: A New York appellate court has...more

Bankruptcy Trustee’s Action For Crop Reinsurance Proceeds Is Time-Barred

A federal district court has held that a bankruptcy trustee’s action to compel payment of crop insurance proceeds is time-barred by virtue of the Federal Crop Insurance Act (FCIA) and the insurance policies’ arbitration...more

New York Appeals Court Sustains Asbestos Plaintiffs’ Direct Suit against Liability Insurer of Dissolved Corporate Defendant

Can an asbestos bodily injury plaintiff directly sue the liability insurer of a dissolved corporate defendant? Yes, said New York’s Appellate Division, First Department – under certain circumstances. The court’s decision came...more

California Court: Commercial Crime Policy Rescinded Due To Insured’s Material Misrepresentation Concerning Handling of Funds

Kurtz v. Liberty Mutual Insurance Co., et al., Case No. 2:11-cv-7010 (C.D.Cal. April 14, 2014), was an insurance coverage dispute arising out of the downfall of Los Angeles businessman Ezri Namvar who has also been referred...more

Insurance and Reinsurance Newsletter: Italy - April 2014

1. IVASS (ITALIAN INSURANCE SUPERVISORY AUTHORITY) – NEW REGULATIONS ON COMPLAINTS MANAGEMENT - On 1 April 2014, the draft measure containing amendments to ISVAP (former Italian Insurance Supervisory Authority)...more

It’s a Matter of Trust: The Garlock Decision as an Impetus for Increased Transparency Legislation in the Asbestos Trust Arena

On January 10, 2014, a bankruptcy court judge considered the estimated asbestos liability for Garlock Sealing Technologies, LLC (Garlock), ultimately determining that liability to be $125 million, a fraction of its previously...more

Delaware Decision Makes It Increasingly Difficult for Insurers to Evade Coverage for Dissolved Corporations

Can an injured plaintiff obtain compensation from a dissolved company with unexhausted insurance policies and force the insurer to pay? The Delaware Supreme Court says yes—in certain circumstances. Originally published...more

Illinois Supreme Court Holds Guaranty Fund's Indemnity Payments Not Limited By Statutory Cap

In Illinois (as in every other state), when an insurance company becomes insolvent and an order of liquidation is entered, the Illinois Insurance Guaranty Fund steps in and pays claims that the insolvent carrier could not...more

And then the insured went into liquidation … but that's not the end of the story

In Toongabbie Collision Pty Ltd (In Liquidation) (Trading as Autoworks Collision Centre) v CGU Insurance Limited [2013] NSWSC 1409, the Supreme Court of New South Wales granted leave to the director of the liquidated company...more

United States v. Susquehanna Bank

Memorandum Opinion

Maryland's federal district court rejected the IRS contention that internal IRS regulations wipe out state recording statutes and the "relation back" principle that gives deeds an effective date prior to actual recording. The...more

Chartis Case

“Limited Judicial Discretion: The Superior Court Refuses to Compel an Insurer to Renew to Provide Coverage in the Context of Liquidation.”...more

Business Litigation Report -- June 2013

In This Issue: - Three Landmark Decisions for Insurers and RMBS Investors - Shedding Light on a Bankruptcy Safe Harbor: Defining the Reach of Section 546(e) - Practice Area Updates: ..Patent...more

Weekly Law Resume - May 23, 2013: Insurers May Exercise the Attorney-Client Privilege On Behalf of Dissolved Corporate Insured

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

Second Circuit confirms excess insurance is triggered only upon actual payment of all underlying limits

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

Illinois Supreme Court to Decide Interplay Between Dram Shop Act and Insurance Guaranty Fund Act

In the final days of the Illinois Supreme Court's recently concluded May term, the Court allowed petitions for leave to appeal in five new civil cases. Today, we begin our detailed previews of those cases, discussing the...more

Reinsurance Redux - April 2013

In This Issue: - Assignment of Right to Collect on Reinsurance Treaty Held Not to Include Underlying Arbitration Clause: On February 25, 2013, the United States District Court for the Northern District of...more

In the Matter of Krafft-Murphy Co., Inc., C.A. No. 6049-VCP (Del. Ch. Feb. 4, 2013) (Parsons, V.C.)

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

Preserving a UM/UIM Carrier’s Right to Defend

In its recent decision in Transportation Ins. Co. v. Womack, the Virginia Supreme Court held that uninsured/under-insured motorist (UM/UIM) carriers who cede control over litigation to a defendant or his liability carrier...more

Jennifer Black Strutt on In re: Federal-Mogul Global Inc.: Third Circuit Holds Bankruptcy Code Preempts Anti-Assignment...

Federal-Mogul Global, Inc., one of the world’s largest manufacturers of automobile parts, and over 150 affiliates (collectively “Federal-Mogul”), filed for Chapter 11 bankruptcy as a result of asbestos-related liabilities. At...more

Insurance Policyholder Observer - June 2012

In This Issue: - The Settlement Dilemma: When a Policyholder and Insurer Disagree on Settlement - Orrick Lawyers Gain Key Trial Victory for CITGO Petroleum on Rights to Coverage - Virginia Supreme Court...more

Court Denies Pennsylvania Insurance Department’s Move To Liquidate Two Long-Term Care Insurers

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

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