July 14, 2009

"Insured v. Insured" Exclusion Precludes Coverage for Officers and Directors in Chapter 11 Bankruptcy Proceeding

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Debtors in a Chapter 11 reorganization may have a more difficult time recovering insurance proceeds on claims asserted against former officers and directors. Biltmore Associates v. Twin City Fire Ins. Co., _ F.3d _ (9th Cir. July 10, 2009).

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.