News & Analysis as of

Interpleaders

Defence & Indemnity - August 2017: V. SURETY AND BOND ISSUES: Manitoba Housing and Renewal Corp. v. Able Eavestroughing Ltd., 2017...

by Field Law on

V. SURETY AND BOND ISSUES - A. Manitoba Court of Queen’s Bench finds CRA entitled to priority to “earned but unpaid” contract funds held by obligee (over the surety who had paid out labour and material payment bond claims...more

Global Transportation Finance Newsletter - June 2017

by Vedder Price on

So, what is LIBOR? LIBOR—the London Interbank Offered Rate—is one of the most ubiquitous benchmarks for determining short-term interest rates in bank (and other) lending. LIBOR rates are short-term fixed rates quoted for...more

O.W. Bunker: Some Modest Considerations

by Vedder Price on

Vessels cannot sail without fuel. This industry truth is recognized in contracts and under U.S. maritime law. In fact, enabling ship operators to efficiently obtain fuel is so important that U.S. maritime law purports to...more

Avoiding Beneficiary Befuddlement

by Bryan Cave on

Retirement plans are complicated creatures to administer so it perhaps is not surprising that the process of determining the beneficiary of a deceased participant can present its own set of challenges and, if things go awry,...more

OW Bunker in Singapore – where are we?

by Reed Smith on

Although the Singapore courts have not, to date, been required to consider the legal issues which have recently come before the English courts in the Res Cogitans, the cases which have come before the Singapore courts...more

Beware of Good Intentions: Insurer Cannot Escape Duty to Defend by Interpleading Policy Limits That Were Not Subject to Competing...

by Reed Smith on

On October 6, 2015, the United States District Court, Northern District of California held that an insurer breached its duty to defend by interpleading remaining policy limits and ceasing its defense of its insured. ...more

Courts in New York and Singapore Reach Opposite Conclusions on the Validity of Interpleader Applications Arising out of the OW...

by Reed Smith on

On 7 November 2014, OW Bunker A/S (“OW”), a global supplier and trader of marine fuel, filed for bankruptcy in Denmark. Further bankruptcies of OW subsidiaries and affiliates swiftly followed, including the bankruptcy of...more

Seventh Circuit Requires "Cash on the Barrelhead" From Interpleaders

by Foley & Lardner LLP on

Judge Easterbrook and his colleagues on the U.S. Court of Appeals for the Seventh Circuit aren’t about to exercise jurisdiction over a civil action of interpleader merely on credit or promises to pay. The plaintiff has to...more

Competing Claims Challenges And The Right To Recover

by Zelle LLP on

Your insured is sued, along with several other additional or named insureds. You receive a policy limits demand that is reasonable, but the limit is insufficient to settle all claims against all of the defendants. What do you...more

Reinsurer Not Allowed To Intervene In Action Involving Cedent’s Risk

by Carlton Fields on

The United States District Court for the Southern District of New York denied a reinsurer’s motion to intervene in an interpleader action in which Battenkill Insurance Company argued it had an 85% interest in the funds at...more

Protecting Financial Stakeholders: Using Rule and Statutory Interpleader (Part 2)

by Burr & Forman on

In my last blog post on interpleader actions, we explored the benefits a financial services firm can obtain from filing an interpleader action. An interpleader action protects the holder of assets (such as a bank account,...more

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