Appeal court reserves judgment in battle over Bridgecorp, Feltex insurance

Wed, 05 Sep 2012

By Paul McBeth Sept. 5 (BusinessDesk) - The Court of Appeal has reserved its decision in the fight to free up director indemnity insurance to cover the cost of defending claims in the Bridgecorp receivership and Feltex Carpets class action. The former Bridgecorp directors Peter Steigrad, Bruce Davidson and Gary Urwin were appealing a ruling in the High Court last year that blocked access to their $20 million directors' and officers' liability (D&O) policy to cover their defence costs. They were joined by the former Feltex board and its ins...

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