A federal bankruptcy court said it can’t compel a directors and officers insurer to pay a settlement demand by the trustee of a defunct crypto mining firm even though the demand was reasonable.
Under Texas law, Relm Insurance Ltd.'s liability applies only after settlement, so the court can’t compel it to accept even a reasonable settlement demand, Judge Marvin Isgur of the US Bankruptcy Court for the Southern District of Texas said in a Monday order.
Tribolet Advisors LLC, the bankruptcy plan’s administrator and trustee, sued the former director and officers of Compute North, the defunct Bitcoin mining company, over ...
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