The Supreme Court reversed the Fourth Circuit Court of Appeals in favor of insurance companies in a unanimous decision written by Justice Sotomayor. In short, the United States Supreme Court held today that insurers facing...more
6/7/2024
/ Anti-Fraud Provisions ,
Asbestos ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Disclosure Requirements ,
Insurance Industry ,
Oral Argument ,
Reorganizations ,
Reversal ,
SCOTUS ,
Standing ,
Truck Insurance Exchange v Kaiser Gypsum Co Inc
On November 8, 2023, Arrowood Indemnity was placed into voluntary liquidation in Delaware. Arrowood was the runoff entity for Royal Sun Alliance Insurance Group, and had been in operation for about twenty years, resolving...more
The United States Supreme Court agreed today to review a Fourth Circuit decision that denied an insurer standing to object to an asbestos producer’s Chapter 11 reorganization plan, on the basis that the insurer’s interests...more
In Hanson Permanente Cement, Inc. v. Kaiser Gypsum Co. (In re Kaiser Gypsum Co.), ____ F. 4th ____, 2023 U.S. App. LEXIS 3482 (4th Cir. Feb. 14, 2023), the Fourth Circuit ruled that an insured’s obligations under a typical...more
In Liberty Mut. Ins. Co. v. Jenkins Bros., 2022 N.Y. App. Div. LEXIS 1846 (App.Div. 1st Dept. March 22, 2022), the New York Supreme Court, Appellate Division, First Department, issued a ruling reversing the trial court and...more
A recent New York federal district court decision addresses a number of issues in the context of asbestos coverage involving an insolvent insured, holding that policy buyout agreements between the insured and its insurers did...more