Municipal Bond Interest Paid by a Bond Insurer After an Issuer’s Bankruptcy Discharge Can Remain Tax-Exempt

By | Public Finance Matters | December 22, 2014

In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus on whether municipal bond interest paid by a bond insurer after the bankruptcy plan’s effective date continues to be tax-exempt.

Professional Liability Insurers Must Pay $30 Million Settlement of Restitutionary Overdraft Fee Claims

By | The D&O Diary | December 22, 2014
Professional Liability Insurers Must Pay $30 Million Settlement of Restitutionary Overdraft Fee Claims

On December 16, 2014, in an interesting ruling that undoubtedly will stir up a great deal of debate, District of Minnesota Judge Paul Magnuson, applying Delaware law, granted U.S. Bancorp’s motion for summary judgment, holding that the bank’s professional liability insurers must pay $30 million of the $55 million the bank agreed to pay in settlement of overdraft fee overcharge class action lawsuits, plus related defense fees.