May 06, 2022
A bank holding company that paid $87.5 million to settle an underlying class action can't get its insurance coverage bid moved back to state court, a Delaware federal magistrate judge ruled Friday, citing Third Circuit precedent.
March 21, 2022
A bank holding company that paid $87.5 million and forgave $700 million in loan debt to settle an underlying class action can't have its coverage bid moved to state court, an excess insurer said, telling a Delaware federal court that recent precedent precludes a remand of the case.
February 22, 2022
A bank holding company that agreed to pay $87.5 million and forgive $700 million in loan debt to settle an underlying class action last year has asked to have its bid for coverage from its excess insurers moved to state court, saying there is no federal question in the case.
January 19, 2022
Ally Financial, which agreed to pay $87.5 million and forgive $700 million in loan debt to settle a class action in March, has sued its excess insurers for denying coverage of the settlement and leaving Ally with a $3 million bill for defense fees.