In the case of Goldsmith Williams v Travelers Insurance Company Limited [2010] EWHC 26, Mr Justice Wyn Williams considered the question of whether a company had acted fraudulently. Goldsmith Williams brought a claim against Travelers Insurance Company Limited using the Third Parties (Rights against Insurers) Act 1930 (the 1930 Act).
Read More UK: High Court Finds that Claim is Excluded as a Result of Director’s Aiding and Abetting
Italy: Italian Government and EU are Named as Defendants in Eternit Asbestos Proceeding
By Troutman Pepper Locke on
Posted in European Union, Toxic Tort
The criminal proceedings in Turin against the former heads of asbestos giant Eternit (as previously reported here) have taken a new turn. A civil case has been linked to the criminal trial and both the European Union (EU) and the Italian Government have been named as civil defendants. It has been reported that 4,000 people have asked to join the case as plaintiffs, and 3,000 people are due to give evidence.
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Read More Italy: Italian Government and EU are Named as Defendants in Eternit Asbestos Proceeding
UK: High Court Rules That any Issue Covered by a Tribunal’s Terms of Reference Cannot be Adjudicated in a Subsequent Arbitration
By Troutman Pepper Locke on
Posted in Arbitration, United Kingdom
In LIDL v Just Fitness Ltd [2010] EWHC 39 (Ch) the Court was asked to decide whether an arbitrator had jurisdiction to determine a particular issue in a dispute, which was alleged to have been addressed in a previous arbitration. …
Read More UK: High Court Rules That any Issue Covered by a Tribunal’s Terms of Reference Cannot be Adjudicated in a Subsequent Arbitration
PLUS D&O Symposium: Afternoon Session I
By Troutman Pepper Locke on
Posted in D&O Liability, United States
The third panel of the first day of the PLUS D&O Symposium focused on current issues surrounding Excess and Side A insurance policies. The panel, which consisted of brokers, underwriters and counsel for policyholders, discussed various topics. …
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PLUS D&O Symposium: Morning Session II
By Troutman Pepper Locke on
Posted in D&O Liability, United States
During the second morning session at the PLUS D&O Symposium, the panelists discussed the role of mediation in D&O claims resolution and the kinds of recurring issues that arise in the mediation context, as well as the best ways that these problems can be avoided or overcome.
PLUS D&O Symposium: Morning Session I
By Troutman Pepper Locke on
Posted in D&O Liability, United States
During a discussion on the state of securities litigation, a panel comprised of prominent securities litigators discussed trends in securities class actions and legislation that is on the horizon. …
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Live Blogging from the PLUS D&O Symposium: Luncheon with Rudy Giuliani
By Troutman Pepper Locke on
Posted in D&O Liability, United States
This afternoon, Rudy Giuliani, the former mayor of New York City, gave the keynote address at the 2010 PLUS D&O Symposium. …
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Proposed Financial Crisis Responsibility Fee Could Affect Large Insurers
By Troutman Pepper Locke on
President Obama’s proposed Financial Crisis Responsibility Fee, which he unveiled last month, has been included in the 2011 budget proposal released on Monday, February 1, 2010. …
Read More Proposed Financial Crisis Responsibility Fee Could Affect Large Insurers
Obama Proposes Budget That Would End Foreign Reinsurer Tax Advantages
President Barack Obama’s recently released proposed Budget of the U.S. Government for the Fiscal Year 2011 (the “Proposed 2011 Budget”) would disallow the deduction for excess non-taxed reinsurance premiums paid to foreign affiliates by a U.S. insurance company. The Proposed 2011 Budget projects that this disallowance would result in tax receipts of $22 million in 2011, and totaling $223 million over the next five years.
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Read More Obama Proposes Budget That Would End Foreign Reinsurer Tax Advantages
UK: Financial Services Authority Seeks Clarification on Co-Operation with Overseas Regulators
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
On Tuesday 2 February 2010, the Financial Services Authority (FSA) went to the Court of Appeal to seek clarification regarding its obligation to co-operate with the Securities and Exchange Commission (SEC). This comes as a result of a High Court judgment last year in favour of two companies which said that the FSA had overstepped its powers by carrying out a request from the SEC to recover certain documents.