D&O Insurer Didn't Deny In Bad Faith, Ill. Appeals Court Says
Law360 (May 29, 2020, 9:34 PM EDT) -- An Illinois appellate court held Thursday that Liberty International Underwriters wasn't unreasonable or vexatious when it denied coverage under a directors and officers policy to an entertainment company accused of minority ownership oppression.
Nine Group II had sought coverage through the policy for a shareholder oppression suit in Nevada, but the claims fell outside the policy period, the Appellate Court of Illinois held. Nine Group sold its interests in another company that owned and operated entertainment venues in the Palms Hotel in Las Vegas and ended up hit with accusations from minority investors that a buyout of their interest was mishandled....
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