Legal Opinion
Federal Insurance v. Sheldon (In re Donald Sheldon & Co.)
District Court, S.D. New York
Decided May 11, 1998No. 97 CIV. 9384(LAK); Bankruptcy No. 85-6538(AJG); Adversary No. 94-8368PublishedCited by 4 opinions
1Opinion of the Court
*691ORDER
KAPLAN, District Judge.
Mary Schad and Donald Sheldon, both former directors of debtor Donald Sheldon & Co., Inc. (“DSCO”), were found liable to the debtor in the amount of $16 million in an adversary proceeding for breaches of their fiduciary duties. The debtor’s trustee brought this action against defendant Federal Insurance Company (“Federal”) to recover the liability of Sheldon and Schad pursuant to DSCO’s directors and officers liability insurance policy on which they were insured persons. Federal and the trustee cross-moved for summary judgment. Bankruptcy Court Judge Conrad granted…
2Cases cited8 opinions
- Samuel Nemaizer, General Manager of the New York Coat, Suit, Dress, Rainwear and Allied Workers' Union I.L.G.W.U. v. Jack Baker, an IndividualCourt of Appeals for the Second Circuit · 1986
- Paddington Partners v. Jean-Louis Bouchard, Herbert A. Denton, Econocom Finance Nv Econocom International N v. Jeffries & Company, Inc.Court of Appeals for the Second Circuit · 1994
- Andrulonis v. United StatesCourt of Appeals for the Second Circuit · 1994
- Mendell v. GollustCourt of Appeals for the Second Circuit · 1990
- Frankel v. ICD Holdings S.A.District Court, S.D. New York · 1996
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3Cited by4 opinions
- Questrom v. Federated Department Stores, Inc.District Court, District of Columbia · 2000
- Flynn v. National Asset Management AgencyDistrict Court, S.D. New York · 2014
- Donghia, Inc.United States Bankruptcy Court, D. Connecticut · 2020
- Koran Chambers v. Wendy StynesDistrict Court, E.D. New York · 2026