Lehman Told It Can Tap $15M Excess D&O Policy

Law360, New York (November 24, 2009, 5:36 PM EST) -- With expenses in ongoing litigation against the investment company’s directors and officers approaching the $20 million mark, a judge has allowed bankrupt Lehman Brothers Holdings Inc. to tap excess liability insurance coverage from the Chubb Group of Insurance Cos. to pay for the mounting legal bills.

Judge James M. Peck issued a ruling Monday in the U.S. Bankruptcy Court for the Southern District of New York granting a request to lift the automatic stay imposed by Lehman’s Chapter 11 filing in order to allow Chubb to...
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