The D&O Diary’s antipodean sojourn continued this week with a quick visit to the pleasant and prosperous country of New Zealand. Readers who saw my description of our recent Australia visit know we enjoyed beautiful summer weather while we were there. Although I would never had thought it possible, the summer weather in New Zealand may have been even better, as the pictures below show.
Key Collective Investor Actions Outside the U.S. to Watch
Among the topics of principal focus on this site are U.S. securities class action lawsuits, although from time to time I do write about collective investor actions outside the U.S (here, for example). The fact is that in recent years there have been a number of important and interesting developments in collective investor actions outside of the U.S. In a recent paper, “Five Current Class Actions Outside of North American Investors Should Be Aware Of,” Jeff Lubitz, Managing Director, ISS Securities Class Action Services, takes a look at some key cases outside of the U.S. to watch in coming months. A copy of the paper can be found here.
Continue Reading Key Collective Investor Actions Outside the U.S. to Watch
A Weekend in Wellington
The final stop on The D&O Diary’s Asia Pacific tour was in Wellington, New Zealand, for a weekend visit and a quick day of Monday meetings, before heading home. Wellington is New Zealand’s capital city, located at the Southwestern tip of the country’s North Island. At 41 degrees southern latitude, the country is roughly about as far south as New York is north. Interestingly, Wellington is the southernmost capital city in the world. The city’s beautiful harbor is ringed by mountains; Mount Victoria rises above the city’s central business district.
Continue Reading A Weekend in Wellington
The New Zealand Edition
The D&O Diary continued its South Pacific sojourn over the weekend with a short stop in Auckland, New Zealand’s largest city, for meetings and for a brief look around. Auckland is located on New Zealand’s North Island, about a three-hour plane flight from Sydney. Because Auckland is located just inside the International Date Line, every…
Kiwi Supreme: Claimants’ “Charge” on D&O Insurance Blocks Payment of Directors’ Defense Costs
In a December 23, 2013 ruling that will be surprising and unwelcome to D&O insurers and their insureds in New Zealand (and perhaps elsewhere) , the New Zealand Supreme Court has reversed the holding of an intermediate appellate court and ruled that, by operation of a statutory “charge” on insurance in favor of third party…
New Zealand Appellate Court Overturns Controversial Decision Blocking D&O Defense Cost Reimbursement
An appellate court in New Zealand has “quashed” the controversial ruling of a lower court ruling that former directors of the defunct Bridgecorp companies are not entitled to defense expense reimbursement under the companies’ D&O insurance policy where the companies’ liquidators have raised (but not yet proven) claims against them exceeding the policy’s limits of…