Supreme Court Finds D&O Coverage Issue Not Ripe

XL Specialty Insurance Co. v. WMI Liquidating Trust, Del. Supr., No. 449, 2013 (May 28, 2014).

This Delaware Supreme Court decision found that a declaratory judgment action was not ripe for decision because the issue of whether potential pre-bankruptcy claims against directors and officers were covered by the D&O policies was not a ripe case or controversy for decision because no actual claims were yet made.

Kevin LaCroix provides insightful analysis here, and Frank Reynolds of Thomson Reuters also provides a helpful overview of the case.