U.S. And U.K. Insolvency Proceedings

We represented a U.S. policyholder that had a U.K. subsidiary with significant tort liability in both the U.S. and the U.K.  This entity, which had purchased a policy with an aggregate limit of nearly a billion dollars covering both itself and its U.S. subsidiaries, sought protection of both U.S. and U.K. insolvency laws and cases proceeded in both countries.  During the course of the parallel proceedings, our lawyers were crucial in resolving numerous novel bankruptcy and insurance issues necessary to preserve and recover proceeds from this policy.