Tag Archives: consent judgment

D&O Insurance: Consent Judgment Including Covenant Not to Execute Constitutes “Loss”

In order to try to resolve litigation pending against them, policyholders sometimes enter a settlement in which they agree to the entry of a consent judgment against them and to the assignment to the claimants of their rights under their insurance policy, subject to the claimants’ agreement not to execute the judgment against them. The … Continue Reading

Former Banks Officials Settle FDIC’s Failed Bank Action for Assignment of D&O Policy Rights

According to a November 13, 2012 press release from their defense counsel (here), the five bank officer defendants in an action the FDIC filed against them as the failed bank’s receiver have settled the case for an assignment to the agency of their rights under the bank’s D&O insurance policy.   The case involves the … Continue Reading