Legal Opinion
Federal Insurance Co. v. Sheldon (In Re Donald Sheldon & Co.)
District Court, S.D. New York
Decided September 6, 1995No. 94 Civ. 8336 (LAK)PublishedCited by 7 opinions
1Opinion of the Court
OPINION
KAPLAN, District Judge.
Mary Schad and Donald Sheldon, both former directors of Debtor Donald Sheldon & Co. (“DSCO”), were found liable to the Debt- or in the amount of $16 million in an adversary proceeding for breaches of their fiduciary duty. The Debtor’s Trustee brought a second adversary proceeding against Federal Insurance Company (“Federal”) to recover the liability of Sheldon and Schad pursuant to a directors and officers insurance policy on which they were insured persons. Federal denied liability, claiming that the loss was excluded from coverage by Illegal Personal Gain and…
2Cases cited14 opinions
- Parklane Hosiery Co. v. ShoreSupreme Court of the United States · 1979
- Seaboard Surety Co. v. Gillette Co.New York Court of Appeals · 1984
- Lachs v. Fidelity & Casualty Co.New York Court of Appeals · 1954
- Kimmins Industrial Service Corporation v. Reliance Insurance Company, National Casualty Company, Landmark Insurance CompanyCourt of Appeals for the Second Circuit · 1994
- M.H. Lipiner & Son, Inc. v. The Hanover Insurance CompanyCourt of Appeals for the Second Circuit · 1989
9 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Pendergest-Holt v. Certain Underwriters at Lloyd's of LondonCourt of Appeals for the Fifth Circuit · 2010
- Plainview Milk Products Cooperative v. Westport InsuranceDistrict Court, D. Minnesota · 2001
- Federal Insurance v. Sheldon (In re Donald Sheldon & Co.)District Court, S.D. New York · 1998
- J.P. Morgan Securities Inc. v. Vigilant Insurance Co.New York Supreme Court · 2017
- J.P. Morgan Sec. Inc. v. Vigilant Ins. Co.New York Supreme Court · 2017
2 more not listed; retrieve them via the Exa API.