Directors & Officers Liability News

Mining Giants BHP, Vale Accused of Colluding to Cut Payouts to Victims of Dam Collapse

Brazilian federal prosecutors have accused mining giants BHP and Vale of colluding with a lawyer to reduce compensation for victims of a fatal dam collapse and interfere with a landmark lawsuit against BHP in the UK. A mining waste dam …

McDonald’s Seeks to Recoup Severance Paid Ousted CEO Over Sexual Affairs

McDonald’s Corp. said on Monday it sued former Chief Executive Steve Easterbrook to recoup tens of millions of dollars in severance and benefits, claiming he covered up and lied about sexual relationships with at least three employees. The lawsuit came …

Mining Groups Should Be Required to Buy Insurance for Tailings Dams: Report

Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental groups said in a report published on Tuesday. The recommendations, …

Oil & Gas Companies Seek More D&O Insurance as Bankruptcies Loom

The U.S. oil and gas industry is paying a hefty price to protect its top brass against potential bankruptcy and investor lawsuits. Oil companies are shelling out as much as 75% more to renew insurance liability coverage for directors and …

Brazil’s Vale Knew Deadly Tailings Dam Was Unsafe as Far Back as 2003: Report

An independent investigation requested by Brazilian iron ore miner Vale SA into the causes of the Brumadinho tailings dam disaster that killed 270 people a year ago found the company knew about the problem but failed to deal with it. …

Preferred Property Program Launches D&O Policy for Community Associations

Preferred Property Programs (PPP), a division of Jacobson, Goldfarb & Scott, Inc. (JGS Insurance), has released a national insurance product for community associations. In conjunction with AXA XL, a division of AXA, PPP will offer a directors and officers insurance …

Public Consultation Launched to Help Set Global Standards for Tailings Dams

A six-week public consultation launched [in London] on Friday will help set global standards to improve mining safety, aiming to prevent any repeat of the Vale tailings dam disaster in Brazil that killed 300 people in January. Tailings dams are …

Vale’s ‘Negligence’ May Have Cost Lives, Says Brazil Mining Regulator

Brazil’s mining regulator on Tuesday blasted iron ore miner Vale SA for failing to disclose problems with a mining dam before a deadly collapse in January, saying this kept the agency from taking actions that could have saved lives. The …

Vale CEO Received Emailed Warning Ahead of Brazil Dam Collapse: Report

The former chief executive of Brazilian iron ore miner Vale received an anonymous email weeks before the deadly collapse of a tailings dam at Brumadinho in January 2019 warning about “dams at their limit,” according to the findings of an …

Brazil Police Accuse Mining Firm Vale, Auditor of Fraud Related to Deadly Dam Collapse

Brazilian federal police proposed criminal charges against Vale SA, auditor TÜV SÜD and 13 of their employees, alleging fraud in relation to a deadly dam collapse in January, according to a document seen by Reuters on Friday. Federal police accused …