Showing 1 - 5 of 5
Kennedys has promoted ten lawyers to its partnership. Four of those promoted are based in the UK, with six in the US. Kennedys’ worldwide partner count is now 280.
On March 3, 2021, the Delaware Supreme Court issued an important opinion in RSUI Indem. Co. v. Murdock, 2021 WL 803867 (Del. Mar. 3, 2021), a Directors and Officers’ (D&O) liability insurance coverage dispute.
A recent decision by a New York trial court highlights the impact corporate structure has on the scope and availability of directors and officers (D&O) insurance. The Commercial Division of New York’s Supreme Court applied an insured capacity exclusion to preclude D&O coverage for American Realty Capital Properties and related entities (AR Capital) and their directors and officers. The opinion, issued on February 2, 2021, highlights the importance of confirming that alleged wrongful conduct was undertaken in an insured capacity for D&O coverage.
The Delaware Supreme Court recently issued a decision that has the potential to significantly limit the availability of Directors and Officers (“D&O”) coverage for actions brought under Section 262 of Delaware General Corporation Law. Section 262 actions allow minority shareholders who opposed a merger—but were outvoted by a majority of other shareholders—to invoke a statutory appraisal process if they believe the merger price undervalued the company.
For several years now, D&O insurers and their policyholders have sparred over the potential for coverage of statutory appraisal actions under Section 262 of Delaware’s General Corporation Laws, or similar statutory appraisal rights in other jurisdictions.