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Brokers Liquidation

Pillsbury - Policyholder Pulse blog

Closing Up the SPAC Shop: Insurance Consequences and Opportunities for Liquidating SPACs

In 2020 and 2021, Special Purpose Acquisition Companies (SPACs) were all the rage. A SPAC is a “blank check company,” publicly traded, and organized for the purpose of merging with a private company. It’s a mechanism for a...more

Wiley Rein LLP

Over $141 Million in Trading Losses for Illegal Trade Deemed “Direct Financial Loss” for “Malicious Act”

Wiley Rein LLP on

A New York intermediate appellate court has held that an insured was entitled to coverage under its fidelity bond for over $141 million in losses it sustained after an independent broker used the insured’s electronic trading...more

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