Sometimes, uncontrollable financial circumstances precipitate a company’s decision to seek the protection of the Bankruptcy Code. Other times, a bankruptcy filing results, at least in part, from poor …
Debtors, Fiduciaries, and Directors and Officers Beware: The Limits of D&O Liability Policy Coverage
In Brief
- Bankruptcy fiduciaries who are not court-appointed Chapter 7 or Chapter 11 trustees have been generally successful in pursuing claims against debtors’ D&O policies.
- However, a recent Sixth Circuit decision may erode this success and have other far-reaching ramifications for fiduciaries who are not court-appointed.
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