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Creditor Exclusion<br><b><i><font="-1">The Perils of D&O Coverage</b></i></font>
The U.S. Court of Appeals for the Fifth Circuit recently held that a Creditor Exclusion provision in directors and officers (D&Os) insurance policies may result in significant limitations on the coverage provided to the D&Os when the underlying dispute is with a creditor acting in its creditor capacity. Markel Am. Ins. Co. v. Verbeek (5th Cir. Sep. 27, 2016). See http://bit.ly/2fkNY1a.
In the Markel case, the owners and officers of Color Star Growers of Colorado, Inc. (Color Star) were sued by lenders who provided the company with a credit facility to refinance its debt. It should be noted that nowhere are the defendants referred to as directors as well. The lenders alleged that the individual defendants misrepresented the company's financial condition in procuring the loan. The defendants tendered the litigation to Color Star's D&O insurer requesting it to defend the litigation as required by Color Star's D&O insurance policy. The insurer refused citing the policy's Creditor Exclusion.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.