Every fall since I first started writing this blog, I
have assembled a list of the current hot topics in the world of directors' and
officers' liability. This year's list is set out below. As should be obvious,
there is a lot going on right now in the world of D&O, with further changes...
A recent negotiated resolution of an FDIC failed bank
lawsuit suggests disputes over D&O insurance coverage may represent the
real frontline in the failed bank litigation wars. The compromise was reached
in the lawsuit the FDIC only recently filed in the District of Arizona
involving the failed...
Recent sharply-worded accusations that the FDIC had
failed to preserve documents attracted quite a bit of media attention. For
example, a January
27, 2012 Wall Street Journal article reported the charges of counsel
for two former IndyMac bank executives, repeating counsel's remarks
An insured's guilty plea to criminal charges relieved his
professional liability insurer of its duty under the policy to defend him
against related civil claims, according to a June 18, 2013 Order by Southern
District of Florida Judge Daniel Hurley. Judge Hurley's decision is interesting
A recurring issue in the litigation the FDIC has filed against the directors and officers of failed banks is the question of whether or not officers – as opposed to directors – can rely on the business judgment rule as a defense under applicable state law. A July 8, 2013 decision by Judge...
One of the recurring D&O insurance coverage issues that has arisen during the current wave of failed bank litigation has been the question whether coverage for an action by the FDIC in its role as receiver of a failed bank against a failed bank’s directors and officers is precluded by the Insured...