New York and Delaware courts resolved two coverage issues in favor of directors and officers of real estate investment trust advisory companies in lawsuits against their liability insurers. Both decisions arise out of ongoing coverage disputes related to allegations of fraud and other wrongdoing in connection with accounting irregularities.
USA, Delaware, New York, Insolvency & Restructuring, Insurance, Litigation, Real Estate, Hunton Andrews Kurth LLP
In MF Global Holdings Ltd. et al. v. Allied World Assurance Co. Ltd. et al., No. 1:16-ap-01251 (Bankr. S.D.N.Y. Aug. 24, 2017), the United States Bankruptcy Court for the Southern District of New York ordered MF Global Holdings Ltd. and Allied World Assurance Co. Ltd. to arbitrate their $15 million errors-and-omissions coverage dispute in Hamilton, Bermuda.
USA, Arbitration & ADR, Insolvency & Restructuring, Litigation, Hunton Andrews Kurth LLP, Deposit insurance, Federal Arbitration Act 1926 (USA), United States bankruptcy court