The proceeds of a liability insurance policy are estate property when claims against the policy exceed policy limits.
In affirming the bankruptcy court's ruling, the Fifth Circuit explained...
The Third Circuit Court of Appeals affirmed the Bankruptcy Court in part and vacated and remanded in part. The plaintiffs' recovery under the Asbestos Lawsuits is barred because the CNA insurance...
BAP for 9th Circuit affirmed ruling of bankruptcy court (D. Az.) granting chapter 7 trustee's motion to approve compromise over debtor's objection. Debtor's pending appeal of prepetition entry of...
'Insured vs. Insured' exclusion in D&O insurance policy bars claims by a liquidating trustee against directors and officers of the company because such claims are brought by, on behalf of, or in...
The Fifth Circuit affirmed the bankruptcy court's denial of his motion to reopen his Chapter 7 bankruptcy so that he could file a Rule 60(b)(4) motion to vacate a previously uncontested lift stay...
The United States District Court for the Western District of Pennsylvania erred when it held that a "named insured," as used in 40 Pa. State. § 638, only includes that who own a structure and are...
In a "no asset" chapter 7 case, a filed proof of claim is not res judicata in other litigation, despite the "deemed allowed" language in 11 USC 502(a). "The Bankruptcy Rules plainly contemplate...
Nutt v. Stafford Kees et al., No. 14-3364 (8th Cir. Aug. 12, 2015)
Ruling:
The 8th Circuit reversed the district court (E.D. Ark. - Jonesboro), ruling that equitable successor liability did not render successor liable for delinquent contributions and breach of fiduciary...
The Tenth Circuit affirmed the district court's summary judgment ruling in favor of the plaintiff, BancInsure. Applying Kansas law, the Court held that the "insured v. insured" exclusion in the...
In re 2920 ER, L.L.C., No. 14-20734 (5th Cir. April 2, 2015)
Ruling:
The 5th Circuit denied petition for mandamus relief, but vacated the district court's order (S.D. Tx.) prohibiting judgment debtor from transferring funds, and compelling postjudgment discovery,...
