D&O Insurers Urge Del. High Court To Dismiss WaMu Suit

Law360, Wilmington (March 5, 2014, 7:27 PM EST) -- XL Specialty Insurance Co. and other directors and officers insurers on Wednesday tried to convince the Delaware Supreme Court to dismiss a lawsuit from the Washington Mutual Inc. liquidating trust, which is seeking to compel millions of dollars of coverage for executives' defense costs.

The insurers argue that the WMI trust, which oversees the estate from the bank holding company's massive bankruptcy, has no right to coverage under certain D&O polices that were written to cover legal defense costs for former executives, because the money in...
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