INSURANCE: $29 million settlement by 35 ESOP participants and grocery chain executives found reasonable following reasonableness hearing on remand from Supreme Court holding that insurer breached duty to defend and was estopped from denying coverage and no evidence of collusion but reasonableness hearing required… $29 million judgment against insurer… Townsend. [Read more…]
Insurance, duty to defend, stipulated judgment
INSURANCE: Court correctly found, without coverage analysis, that insurer breached duty to defend after recognizing policy potentially implicated, estopped from denying coverage… $29 million stipulated judgment improperly granted without [Read more…]
Insurance, ESOP, $29 million stipulated judgment
INSURANCE: Defense of corporate officers in grocery chain ESOP litigation was tendered when insurer on notice in federal litigation and repeated requests for payment of defense costs in state action, insurer had duty to defend, policy not one of mere indemnification of defense costs, breached duty by [Read more…]