Bankrupt Companies' Execs Can't Count On D&O Help

Law360, New York (February 9, 2010, 5:39 PM EST) -- Executives and board members facing the doomsday scenario of business failure and allegations of mismanagement are likely to find themselves in need of insurance coverage for legal expenses. But access to benefits is not a given under the watch of bankruptcy courts, attorneys warn.

Intended to serve as liability coverage for company management, directors and officers policies nonetheless can potentially be caught up in bankruptcy proceedings or claimed by the estate, attorneys said.

That can complicate matters for executives and board members when they become targets...
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