D&O Indemnity Claims in Bankruptcy: Navigating Third-Party Suits, Chapter 11, and D&O Insurance Coverage
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide insight and analysis on the types of claims that may entitle directors and officers to indemnity protection and how their indemnity claims are treated in and affected by a company's bankruptcy. The panel will also discuss the effect of bankruptcy on D&O insurance coverage and the issues considered in determining who is entitled to proceeds from the D&O insurance policy in a Chapter 11 proceeding.
- Nature of indemnity claim
- Source: state law, contract, formation documents
- Scope: exception for criminal conduct, gross negligence with willful misconduct
- Types of claims: shareholder action, discrimination, trade secret misappropriation
- Who is liable and for what
- Directors and officers
- Insurance policy
- Treatment of claims in bankruptcy
- Subordination (Bankruptcy Code Sections 502 or 510)
- Allowed unsecured claims
The panel will review these and other key issues:
- Are bankruptcy exclusions in D&O policies enforceable?
- When is a director or officer entitled to indemnification for third-party claims?
- How are those indemnity obligations impacted by the bankruptcy of the company?
- What are the coverages to include in the D&O insurance policy? What endorsements may ensure that directors and officers remain covered after a bankruptcy?
- How does a Chapter 11 proceeding impact insurance coverage and distribution of proceeds?
Brett M. Amron
Mr. Amron advises clients in complex business and bankruptcy litigation matters with an emphasis on director and... | Read More
Mr. Amron advises clients in complex business and bankruptcy litigation matters with an emphasis on director and officer liability, breach of fiduciary duty, partnership and shareholder disputes, fraud, and avoidance and recovery of preferential and fraudulent transfers. Mr. Amron represents court-appointed fiduciaries, trustees, receivers, corporations, shareholders, individuals, creditors’ committees, and secured and unsecured creditors. Mr. Amron speaks and writes frequently on various topics related to his practice.Close
Leslie A. Davis
Ms. Davis has significant experience representing insurance companies in coverage matters, with a focus on... | Read More
Ms. Davis has significant experience representing insurance companies in coverage matters, with a focus on environmental and mass tort liabilities and professional liability coverage disputes. She regularly represents insurance and reinsurance companies in negotiations, mediations, and arbitrations involving disputes arising out of their reinsurance relationships.Close
Lydia R. Webb
Gray Reed & McGraw
Ms. Webb focuses her practice on representing and advising debtors, creditors, committees and post-confirmation... | Read More
Ms. Webb focuses her practice on representing and advising debtors, creditors, committees and post-confirmation trustees in bankruptcy cases and other insolvency or restructuring scenarios. She has guided clients to successful results in complex cases before courts throughout Texas and many other states, including Oklahoma, Delaware and New York. With cases spanning various industries--oil and gas, healthcare, retail, manufacturing, restaurants--Ms. Webb focuses on gaining a strong grasp of the industry-specific regulations and issues that will have a big impact on the outcome of the bankruptcy.Close