Judge Dismisses WaMu Trust Suit Against D&O Insurers

Law360, Wilmington (October 4, 2012, 10:39 PM EDT) -- A Delaware bankruptcy judge Thursday tossed an adversary suit seeking to force XL Specialty Insurance Co. and 10 other directors and officers insurers to cover $55 million in defense costs for Washington Mutual Inc. executives, finding the court lacked jurisdiction in the matter.

U.S. Bankruptcy Judge Mary F. Walrath, who has presided over the entire bankruptcy case since its inception four years ago, found the Delaware court had no jurisdiction in the coverage dispute seeking to hold the insurers liable for defense costs incurred by WMI's...
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