Supreme Court Denies Petition To Review Ruling In Asbestos Coverage Lawsuit

WASHINGTON, D.C.- (Mealey's) The U.S. Supreme Court on Nov. 30 denied an insurer's petition for certiorari seeking review of the Second Circuit U.S. Court of Appeals' ruling that a 1986 injunction issued in asbestos manufacturer Johns-Manville Corp.'s bankruptcy proceedings does not apply...

Reed Smith LLP on Rosciti v. Liberty Mutual Insurance Company: An Analysis of Accessing Excess Coverage of a Bankrupt Entity

By Ann V. Kramer and Jennifer D. Katz In Rosciti v. Liberty Mutual Insurance Company , the District Court of Rhode Island concluded that an individual seeking damages from a bankrupt company cannot directly collect from that company’s excess insurer if the bankrupt company has not exhausted...

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...

General Principles and Introductory Matters Concerning Insurer Insolvency and Bankruptcy – New Appleman on Insurance Law Library Edition, Chapter 96

LexisNexis is publishing a new volume of our authoritative treatise on the nation’s insurance law, the New Appleman on Insurance Library Edition . It is entitled “Insolvency and Bankruptcy.” Comprehensive new Volume 9 is solely devoted to insurer as well as policyholder insolvency...

insolvency liquidation bankruptcy sign

Bankruptcy and Insurance – New Appleman on Insurance Law Library Edition, Chapter 107

By Susan N. K. Gummow and Eric J. Shukis Abstract *** The filing of bankruptcy impacts the debtor-insured, its insurers, and parties asserting claims that may implicate the debtor’s insurance policies. Chapter 107 introduces some of the basic elements and concepts of bankruptcy law...

Insurance as an Asset in the Estate – New Appleman on Insurance Law Library Edition, Chapter 108

By Susan N. K. Gummow Abstract *** Having reviewed the basic elements and concepts of bankruptcy law in Chapter 107 above, Chapter 108 focuses on how insurance functions as an asset of the debtor’s bankruptcy estate. Section 108.01 begins by examining the relationship between the...

Impact Of Bankruptcy On Insurance Matters – New Appleman on Insurance Law Library Edition, Chapter 109

Abstract *** Having considered the bankruptcy process generally in Chapter 107 and undertaken an inquiry into how insurance functions as an asset of the bankruptcy estate in Chapter 108 above, this chapter turns to the impact of bankruptcy on insurance-related matters and addresses issues that...

Bankruptcy Issues Arising For Specific Kinds of Insurance – New Appleman on Insurance Law Library Edition, Chapter 110

By James M. Lawniczak Abstract *** Chapter 110 covers insurance issues that often arise in federal bankruptcy cases. Due to their nature, certain types of insurance policies are implicated more often in bankruptcy proceedings than others. For example, probably the most discussed type of insurance...