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D&O's
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Approving filing of a Class Action: Implications for D&O Insurance |
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By Adv. Addy Margalith
A recent Supreme Court judgment in Fatal v Cellcom (CM 8761/09) may have a dramatic effect on class action suits filed in Israel and, as a result, it affects liability policies such as directors' and officers' (D&O) liability policies, which provide coverage for such claims, including defence costs.
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Prior Knowledge and Coverage for Defence Costs Under D&O Liability Insurance |
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By Adv. Yael Navon
Very rarely do Israeli Courts address the interpretation of D&O Liability Insurance policies. Almost all insurance claims against D&O insurers are settled out of Court and therefore, there are very few Court judgements which refer to such policies. One of these judgements is C.A. (Haifa) 4600/07 Kenge Mansur v. Sahar Zion Insurance Co. Ltd. and the Carmel Local Council, which was handed down by the Haifa District Court on 28th September 2008.
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Derivative Claims - New Developments |
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By Adv. Yael Navon
Recently two Court rulings were handed down, in which the courts referred to several aspects of a derivative claim: Only in rare circumstances will a derivative claim be dismissed in limine; a Derivative Claim Cannot be Filed by a Former Shareholder.
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The Policy Limit as a Factor in the Approval of a Settlement Vis à Vis the D&O's |
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By Adv. Addy Margalith
The Tel Aviv District Court stated that if the policy limit is exhausted by payment of defence costs, then plaintiffs will not be able to recover their loss from the D&Os personal means.
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Personal Liability of D&Os in EPL Claims |
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By Adv. Yael Navon , Partner
In cases in which a D&O of a company was personally involved in the breach of the company's duty towards its employees, the court may impose personal liability on the D&O, although he or she is not considered as the "employer".
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Criminal Liability of D&O’s |
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By Adv. Yael Navon, Partner, and Adv. Addy Margalith
In two recent judgement handed down by the District Court of Tel Aviv the court discussed the implication of placing criminal liability on directors and officers and reached contradicting conclusions.
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Leave for Civil Appeal 5150/02 - Dr. Moshe Weinberg, Adv. V. Karen Bails, Adv. |
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Civil hearing - service of suit to Third Party outside the jurisdiction no longer involves service to an Israeli defendant.
In this case the Supreme Court ruled that the time has come to change the procedures which were also set down by the Supreme Court, in request for leave for civil appeal 3765/90 Alba Metal Processing Machines Ltd. v. Colgar SPA, where it was found that in service of suit outside the jurisdiction according to Regulation 500(10) of the Civil Procedures Regulations - 1984, does not enable service of a third party policy in which the foreign "defendant", is the sole "defendant".
The Court ruled that it is possible and even proper to prefer another interpretation, according to which a foreign "defendant" in a Third Party Notice can be considered as a necessary or correct litigant for the purpose of the claim which is being conducted in Israel, even if in the said third party notice, there is no "defendant" in addition to the foreign "defendant" to whom to serve the suit in Israel was served properly. In other words, the same test can be applied to a foreign third party as was applied on a foreign defendant, with the necessary changes, and to say that the foreign third party is the necessary or correct party in the claim if, had he been resident in Israel, the Court would have been authorised to hear the third party notice filed against him.
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