Foley & Lardner: Additional States Enact NAIC Model Qualified Financial Contracts Law

By Andrew Oberdeck , Senior Counsel, Foley & Lardner LLP Several states have recently added provisions to their insurance rehabilitation and liquidation acts which address the rights of parties to certain derivatives transactions with an insurance company in the event that an order of rehabilitation...

Comfort Orders in Bankruptcy Court To Advance Defense Costs for Directors and Officers Insurance

After entity coverage began to be added to the D&O insurance policy a couple of decades ago, a recurring problem in the bankruptcy context was whether or not the D&O policy proceeds were property of the estate under Bankruptcy Code Section 541 (a) and subject to the automatic stay under Bankruptcy...