Legal Affairs / General

Life policy proceeds due to insolvent must be paid to their trustees

Where an unrehabilitated insolvent was the beneficiary of the proceeds of a life policy taken out on the life of his wife, and the couple’s joint estate had been sequestrated, it was held that the proceeds of the policy were payable to the trustees of the insolvent estate and not to the insolvent surviving husband.

The FSCA issues warning on investing in crypto assets

No liability for cricket ball injury

Anyone who has studied the law of delict since 1951 is aware of the English case of Bolton v Stone which found that hitting a cricket ball out of a cricket ground is an incidence of the game and did not amount to negligence so that the passer-by injured by the ball could not sue for damages.

Application of the bump-up exclusion in a D&O policy (US)

The bump-up exclusion in a D&O policy excluded claims ‘alleging that the price paid … for the acquisition … of an entity is inadequate’. The insurers do not have to pay any amount due under a judgment or settlement representing the amount by which the price or consideration would be effectively increased. This is to prevent companies or their directors and officers selling the company or its assets for an inadequate amount and expecting the D&O insurers to pay in the difference.