Gemini Ins. Co. v. Potts

BVLaw
Full Text of Court Cases
July 15, 2020
4731 Arrangement of Transportation of Freight and Cargo
488510 Freight Transportation Arrangement
ESOP valuations
breach of fiduciary duty, prohibited transaction, trustee, breach of ERISA fiduciary obligations, overpayment, employee stock ownership plan (ESOP), Department of Labor, appraiser, indemnification/contribution

Gemini Ins. Co. v. Potts
2020 U.S. Dist. LEXIS 124027
US
Federal Court
Federal
United States District Court (S.D. Ohio)
N/A
Graham

Summary

In bifurcated ESOP litigation centering on ERISA violations, court finds trustee defendants’ professional liability policy expressly excluded coverage for ERISA claims; under language of policy, insurer is not required to defend or indemnify trustee defendants fighting DOL’s ERISA allegations.
Gemini Ins. Co. v. Potts
PDF, Size: 40 KB

See Also

Court Finds ESOP Trustee’s Insurance Excludes Coverage for Defense Against DOL’s ERISA Claims

In bifurcated ESOP litigation centering on ERISA violations, court finds trustee defendants’ professional liability policy expressly excluded coverage for ERISA claims; under language of policy, insurer is not required to defend or indemnify trustee defendants fighting DOL’s ERISA allegations.