Law360, New York (September 10, 2014, 2:55 PM EDT) -- On Sept.  4, 2014, in the latest in a series of rulings on the issue of whether MF Global's directors and officers insurers may pay the defense expenses the company's former officers and directors are incurring in the various lawsuits pending against them, Southern District of New York Bankruptcy Judge Martin Glenn held that the insurers may pay the individuals' defense expenses without restriction and he ruled further that payment of the individuals' defense expenses should not be subject to any further bankruptcy court oversight, except with respect to $13.06 million of the D&O insurance proceeds that the bankrupt estate could claim under the policy if the estate were to pay indemnification to certain individuals....