Essex Equity Fights Lehman Bid To Release D&O Insurers

Law360, New York (October 12, 2011, 6:16 PM EDT) -- Essex Equity Holdings USA LLC asked a New York bankruptcy judge Wednesday to reject Lehman Brothers Holdings Inc.'s bid to release other insurers from policies issued to former executives, saying the insurance dispute was not proper for the court.

In a limited objection, Essex Equity argues that the debtor's bid to grant releases in connection with the directors and officers policies "places the court directly in the middle of an insurance coverage dispute, a dispute this court has cautioned it would not hear and about which...
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