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Insurance Industry Bankruptcy Court

Zelle  LLP

Concurrent Causation is Key – Fifth Circuit Holds Insured to its Causative Burden

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The United States Fifth Circuit Court of Appeals recently affirmed summary judgment granted by the bankruptcy court in favor of commercial property insurer in a Winter Storm Uri claim, holding that the insured motel owners...more

Seward & Kissel LLP

Pilgrimage to Bankruptcy and Trial Run

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Dolan’s MSG Networks nears bankruptcy as cord-cutting surges | Front Office Sports - MSG Networks, the Dolan-controlled regional sports networks, face imminent bankruptcy because of $804 million in debt that is currently...more

Skadden, Arps, Slate, Meagher & Flom LLP

Rockville Centre Case Offers a Framework for Settling Mass Tort Bankruptcy Claims Post-Purdue

The Supreme Court’s 2024 Purdue decision1 held that the Bankruptcy Code does not authorize a release and injunction under a Chapter 11 plan of claims against a non-debtor, even if they relate to claims against or by the...more

Bennett Jones LLP

The Function and Limits of Directors and Officers Insurance Policies in Class Actions and the Companies’ Creditors Arrangement Act

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The Ontario Superior Court has held that claims made insurance policies issued to directors and officers upon a company filing for protection under the Companies' Creditors Arrangement Act, RSC 1985, c C-36 (the CCAA) could...more

Tyson & Mendes LLP

A Seat at the Table: Supreme Court Rules Insurers Have a Right to Be “Heard on Any Issue” in Chapter 11 Cases

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On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al. The Court held an insurer with financial responsibility for claims in bankruptcy...more

Rivkin Radler LLP

Insurance Update - July 2024

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It’s not often that the U.S. Supreme Court weighs in on insurance issues. That’s because the McCarran-Ferguson Act gives states the primary authority to regulate the business of insurance. So when the Supreme Court speaks on...more

Rivkin Radler LLP

Creditors Committee’s Request to Sue Diocese Insurers Denied

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Recently, a bankruptcy judge denied a request by a creditors’ committee to sue the insurers of the Roman Catholic Diocese of Rockville Centre (the “Debtor”). The judge found that the Official Committee of Unsecured...more

White and Williams LLP

Supreme Court Agrees to Consider Standing of Insurers in Chapter 11 Cases

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The United States Supreme Court agreed today to review a Fourth Circuit decision that denied an insurer standing to object to an asbestos producer’s Chapter 11 reorganization plan, on the basis that the insurer’s interests...more

Wiley Rein LLP

Insurer’s Motion to Dismiss Denied Where Complaint Plausibly Alleged Rescission of Policies Was Untimely Under Wisconsin Statute

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The United States Bankruptcy Court for the Eastern District of Wisconsin, applying Wisconsin law, denied an insurer’s motion to dismiss on the grounds that the insured dentist’s complaint plausibly alleged that the insurer’s...more

King & Spalding

Southern District of Ohio Finds Bank’s Settlement of Fraudulent Transfer Claim Uninsurable

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On December 16, 2022, the U.S. District Court for the Southern District of Ohio held that a settlement of a fraudulent transfer suit was not covered under the settling defendant’s insurance policies. Huntington National Bank...more

Lippes Mathias LLP

Prepare to Respond for the Coming Wave of Claims from Adult Survivor’s Act

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In 2019, New York passed the Child Victims Act (“CVA”), which opened a two-year lookback window for survivors of childhood sexual abuse to file claims otherwise barred by the former statute of limitations. Earlier this year,...more

Herbert Smith Freehills Kramer

Insurance Rehabilitation Proceeding in Curaçao Recognized by New York Bankruptcy Court

In In re ENNIA Caribe Holding N.V., 18-12908 (Bankr. S.D.N.Y. Dec. 20, 2018), a bankruptcy court in the Southern District of New York recognized a foreign insurance company’s rehabilitation proceeding in Curaçao as a “foreign...more

Patterson Belknap Webb & Tyler LLP

Due Process in Chapter 15: Industry-Dependent, Jurisdiction-Dependent, or Both?

In a recent cross-border insolvency case, Judge Glenn of the United States Bankruptcy Court for the Southern District of New York recognized an insurance company rehabilitation proceeding in Curaçao as a “foreign main...more

Quinn Emanuel

Business Litigation Report - September 2017

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September 2017: An Update on UK Tax Disputes Including the New UK Corporate Criminal Offense: What Is It and What Should You Do About It? - Introduction - Across the world, tax authorities are becoming more aggressive...more

Carlton Fields

Bankruptcy Court Requires An MF Global Holdings Bermuda Reinsurer To Post $15 Million Bond Before Deciding Motion To Compel...

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In the most recent decision in an ongoing dispute between MF Global Holdings Ltd. and its (re)insurers, the Bankruptcy Court for the Southern District of New York ordered Allied World to post a $15 million bond before the...more

Carlton Fields

Bankruptcy Court Holds Bermuda Insurers Violated Barton Doctrine By Seeking Anti-Suit Injunctions In Bermuda Courts

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Two separate courts in the Southern District of New York have recently issued opinions relating to a complicated bankruptcy proceeding following the collapse of MF Global Holdings Ltd. in 2011. The underlying dispute involves...more

Troutman Pepper Locke

NY Bankruptcy Court Trumps Insurers Seeking to Compel Arbitration

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The United States Bankruptcy Court for the Southern District of New York recently held a group of insurers in contempt for violating a temporary restraining order (“TRO”) aimed at preventing the insurers from using a Bermuda...more

K&L Gates LLP

Orion and London and Overseas Scheme Administrators Announce Bar Date for Filing Claims Under Newly Approved Amending Scheme

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Our Alert dated December 1, 2015 discussed the High Court of Justice of England and Wales’ approval of the proposed Amending Scheme of Arrangement for OIC Run-Off Limited (formerly the Orion Insurance Company limited)...more

K&L Gates LLP

High Court Approves Amending Scheme for Orion and London and Overseas

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On October 29, 2015, the High Court of Justice of England and Wales (“High Court”) issued an order (“Order”) approving an Amending Scheme of Arrangement (“Amending Scheme”) for two insolvent London Market insurers, OIC...more

Carlton Fields

Florida District Court Affirms Bankruptcy Court Bar Order In Favor Of Former Ds & Os

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On September 24, Southern District of Florida District Court Judge James I. Cohn issued an opinion affirming an order approving the settlement of a debtor’s breach of fiduciary duty, corporate waste, and mismanagement claims...more

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