A recent decision by the United States Bankruptcy Court for the Southern District of Texas in In re Walker County Hospital Corporation serves as an important reminder to clients that are purchasing or renewing directors and officers (“D&O”) insurance coverage that the “Insured versus Insured” exclusion must contain the broadest possible exceptions for claims brought against directors and officers following a bankruptcy filing. Without the specific policy language, current and former directors and officers may be exposed to personal liability.

Everything, everywhere, all at once is our risk thesis for 2023, but one must not forget about concentration risk. This issue has rocketed up diligence agendas for LPs and GPs alike as the collapse of Silicon Valley Bank proved it really was the bank for venture capital.The entry of SVB into receivership on March 10, 2023 highlighted just how central it had become to U.S.

Before the new bankruptcy law (Royal Decree 53/2019) (the “Bankruptcy Law”) came into effect in Oman, the laws and regulations regulating bankruptcies were limited and simply addressed in laws such as the commercial law (Royal Decree 55/1990 (as amended)) (the “Commercial Law”) and the commercial companies law (Royal Decree 18/2019) (the “Commercial Companies Law”). These laws provided the framework for the bankruptcy of a person and the liquidation of insolvent companies only.