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Biltmore Assocs., LLC v. Twin City Fire Ins. Co., No. 06-16417

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By FindLaw Staff on July 10, 2009 3:57 PM

In a bankruptcy adversary proceeding by former officers of the Debtor for indemnification in an underlying action for breach of fiduciary duty, the dismissal of the complaint is affirmed where the "insured versus insured" exclusion in the relevant policies barred coverage, because a post-bankruptcy debtor in possession acts in the same capacity as the pre-bankruptcy debtor for the purpose of directors and officers liability insurance.

Read Biltmore Assocs., LLC v. Twin City Fire Ins. Co., No. 06-16417

Appellate Information

Argued and Submitted May 15, 2008

Filed July 10, 2009

Judges

Opinion by Judge Kleinfeld

Counsel

For Appellant:

Andrew S. Jacob, Shughart Thompson & Kilroy, P.C., Phoenix, AZ

For Appellee:

Michael F. Perlis, Stroock & Stroock & Lavan LLP, Los Angeles, CA

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