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  • In re FairPoint Ins. Coverage Appeals

    Publication Date: 2024-01-01
    Practice Area: Insurance Law
    Industry: Insurance | Investments and Investment Advisory | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Seitz
    Attorneys: For plaintiff: Kurt M. Heyman, Aaron M. Nelson, Kelly E. Rowe, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Scott B. Schreiber, William C. Purdue, Samuel I. Ferenc, Matthew L. Farley, Arnold & Porter Kaye Scholer LLP, Washington, D.C.; Bruce E. Jameson, John G. Day, Prickett, Jones, & Elliott, P.A., Wilmington, DE; Tammy Yuen, Juan Luis Garcia, Skarzynski Marick & Black, LLP, New York, NY; Robert J. Katzenstein, Smith Katzenstein & Jenkins LLP, Wilmington, DE; Ronald P. Schiller, Daniel J. Layden, Hangley Aronchik Segal Pudlin & Schiller, Philadelphia, PA; Michael R. Goodstein, Bailey Cavalieri, Columbus, OH; Thomas J. Judge, Jason C. Reichlyn, Dykema Gossett, PLLC, Washington, D.C. for appellants.
    for defendant: Jennifer C. Wasson, Carla M. Jones, Potter Anderson & Corroon LLP, Wilmington, DE; Robin L. Cohen, Keith McKenna, Meredith Elkins, Cohen Ziffer Frenchman & McKenna LLP, New York, NY for appellees.
    Case Number: 478, 2022

    Superior court erred in finding fraudulent transfer claims filed by a bankruptcy litigation trust to be derivative and falling under the definition of a "securities" claim in a corporate insurance policy where such claims only benefitted creditors rather than the company and thus were direct in nature.

  • CCSB Fin. Corp. v. Totta

    Publication Date: 2023-07-31
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Seitz
    Attorneys: For plaintiff: Kevin J. Connors, Aaron E. Moore, Marshall Dennehey Warner Coleman & Goggin, Wilmington, DE; Michael H. McGinley, Rick S. Horvath, Stuart T. Steinberg, Dechert LLP, Philadelphia, PA; Brett A. Scher, Patrick M. Kennell, Kaufman Dolowich & Voluck, LLP, New York, NY for appellant.
    for defendant: Kevin H. Davenport, Eric J. Juray, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for appellees.
    Case Number: 2021-0173

    Chancery court correctly disregarded corporate charter provision deeming board action "conclusive and binding" where the provision had the effect of exculpating directors from liability for breaching their duty of loyalty to the corporation.