News & Analysis as of

Indemnification Trustees

Greenbaum, Rowe, Smith & Davis LLP

New Jersey Supreme Court Publishes First Opinion Addressing First-Party Indemnity Provisions

On May 30, 2024, the Supreme Court of New Jersey issued its decision in Boyle v. Huff, holding that an indemnification clause cannot apply to first-party claims unless the parties include specific language expanding the...more

Bradley Arant Boult Cummings LLP

Fifth Circuit Reminds Creditors They Must Actively Protect Their Interests in Bankruptcy

In its recent opinion in Raymond James & Associates Inc. v. Jalbert (In re German Pellets Louisiana LLC), 23-30040, 2024 WL 339101 (5th Cir. Jan. 30, 2024), the Fifth Circuit held that a confirmed bankruptcy plan enjoined a...more

Conyers

Guidance For Trustees Dealing With Insolvent Trusts: The Z Trust Cases

Conyers on

In October 2022, the Privy Council delivered its judgment in the Z Trust case of Equity Trust (Jersey) Ltd (Respondent) v Halabi (in his capacity as Executor of the Estate of the late Mdam Intisar Nouri) (Jersey) which was...more

Walkers

Insolvent trusts: pari passu indemnification of successive trustees & the importance of creditor expectations – A view from the...

Walkers on

Introduction - The Judicial Committee of the Privy Council has handed down its long-awaited judgment in the joined cases of Equity Trust (Jersey) Ltd v Halabi and ITG Ltd and others v Fort Trustees Ltd, each focusing on...more

Jones Day

Australian Government Releases Draft of Private Sector Whistleblower Protection Law

Jones Day on

The Situation: Currently, limited protections exist in Australia for private sector whistleblowers against victimization and detrimental treatment. The Development: The Australian government has released draft law that...more

Orrick - Finance 20/20

Proposed Class Accuses Deutsche Bank of Improperly Using Funds for Legal Defense

Orrick - Finance 20/20 on

On August 4, 2017, Royal Park Investments SA/NV filed a proposed class action against Deutsche Bank National Trust Co. (“DBNTC“) in the U.S. District Court for the Southern District of New York, claiming that DBNTC—in its...more

Orrick - Finance 20/20

Court Grants in Part and Denies in Part Nomura’s Motion to Dismiss Trustee Repurchase Action

Orrick - Finance 20/20 on

On July 18, Justice Marcy Friedman of the New York County Supreme Court, Commercial Division, granted in part and denied in part Nomura Credit & Capital Inc.’s motion to dismiss claims brought by HSBC, as Trustee for the NAAC...more

Morgan Lewis

Court Upholds Validity of ERISA Fiduciary Indemnification

Morgan Lewis on

Ruling rejects DOL challenge of an agreement by a 100% ESOP-owned company to advance defense costs and indemnify a trustee....more

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