• Posts by Justin F. Paget
    Posts by Justin F. Paget

    Justin provides restructuring advice to companies and financial institutions. Justin has assisted corporate borrowers, lenders, private equity and hedge funds, and fintech and financial services companies in a variety of ...

Time 7 Minute Read

Directors and officers should take note of a recent decision from the US Bankruptcy Court for the Southern District of New York concerning access to D&O insurance policy proceeds.  In In re SVB Financial Group, Case No. 23-10367 (Bankr. S.D.N.Y. May 22, 2023)[1], the Bankruptcy Court found cause to lift the automatic stay to allow directors and officers to access the proceeds of SVB Financial Group’s (“SVB”) directors and officers (“D&O”) insurance policies to pay for legal costs incurred in responding to investigations and defending litigation.  Moreover, it declined to impose a “soft cap” on the advance of defense costs. 


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