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The United States District Court for the Southern District of New York, applying New York law, has held that one Insured cannot use consent and cooperation provisions in a D&O insurance policy to block coverage for another Insured’s settlement in a bankruptcy adversary proceeding. Modell v. Argonaut Ins. Co., 2024 WL 495135 (S.D.N.Y. Feb. 8, 2024).
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