D&O Insurance: FDIC’s Claims Against Failed Bank’s Directors and Officers Not Related to Earlier Claims, Trigger Separate Policy Period

By | The D&O Diary | July 11, 2014
D&O Insurance: FDIC’s Claims Against Failed Bank’s Directors and Officers Not Related to Earlier Claims, Trigger Separate Policy Period

On July 9, 2014, in yet another in the ever growing line of cases examining whether or not separate D&O claims involve interrelated wrongful acts, District of Puerto Rico Judge Gustavo Gelpi, applying Puerto Rico law, held that the FDIC’s claims against the former directors and officers of the failed Westernbank did not involve the “facts alleged” against the directors and officers in an earlier lawsuit, and therefore were not deemed made at the time of the earlier lawsuit.

Hobby Lobby Precedent Already Undermined, Says Justice Sotomayor

Thursday, July 3, the United States Supreme Court granted an application for injunction pending appeal by Wheaton College, overriding its requirements for exemption from the contraceptive mandate under the Affordable Care Act, while calling into question the extent of the court’s holding in Burwell v. Hobby Lobby, Inc