The Scottish Court of Session has, for the first time, considered what is required to establish a ‘liability’ for the purposes of the Third Parties (Rights against Insurers) Act 2010 (the “2010 Act”). In this matter, the Court found that a ‘decree in default’, issued due to the insolvent Insured’s failed to appear at a procedural hearing, was sufficient to establish ‘liability’.

Protecting your company from unpaid invoices could help you stay in business. At the time of writing, latest figures indicate that the number of companies going insolvent is on track to be the highest since the 2009 financial crisis.

For many manufacturers, protecting your company from unpaid invoices could help you stay in business.

It remains an uncertain time for the sector, with manufacturing firms among the five industries most affected by insolvencies.

Good afternoon. Following are this week’s summaries of the Court of Appeal for Ontario for the week of December 18, 2023.

1. Department of Finance publishes its Feedback Statement on the National Discretions contained within MiCA

Outcome of the UK government's market consultation and the likely shape and impact of the proposed regime

October found relief for both non-executive director’s and the D&O insurance market as the Carillion non-executive director 'test case' was abandoned the day before trial.

In a recent opinion, the Fifth Circuit reaffirmed and applied its holding from OGA Charters. In doing so, it blocked (via a bankruptcy adversary proceeding) one set of plaintiffs from keeping an insured’s entire policy limit, which the insurer paid as per Texas’ “first come first served” approach to time-limited policy limits demands.

As discussed in our post last month, it was a long road for Arrowood Indemnity to be placed into liquidation in Delaware.

The United States Supreme Court recently accepted review of In re Kaiser Gypsum Co., Inc., 60 F.4th 73 (4th Cir.