A bankruptcy trustee is not entitled to a preliminary injunction to prevent shareholder plaintiffs from settling with a D&O insurance carrier. The subject policy is not property of the estate.

The trustee's real real concern is that payment of defense costs may affect his rights as a plaintiff seeking to recover from the D&O policy rather than as a potential defendant seeking to be protected by the D&O policy. In this way, trustee is no different than any third party plaintiff suing defendants covered by a wasting asset.