Scott A. Wolfson’s and Thomas J. Kelly’s article, "MF Global Court Declines D&O Insurance Nanny Role," was featured on the cover of the May 2015 issue of the American Bankruptcy Institute Journal. The article examines a recent decision by the United States Bankruptcy Court for the Southern District of New York in which the court held that proceeds from certain D&O insurance policies were not property of a corporate debtor’s estate. The court’s analysis focused on the terms of the D&O policies themselves, in light of the general principle that a debtor does not have greater rights in property because it filed for bankruptcy. The court further declined to exercise its general equitable powers to oversee the D&O’s use of the funds by refusing to "police litigation in other courts that [do] not directly affect the property of the estates."
The ABI Journal is the flagship publication of the American Bankruptcy Institute. The periodical is published 11 times a year, with a combined issue for December/January. Established in 1982, the Journal covers the entire range of insolvency issues, featuring timely articles written by some of the most knowledgeable professionals in the field.