Argus, Tremont Deal Over Madoff Losses Gets OK

Law360, New York (October 16, 2009, 5:22 PM EDT) -- A federal judge has given a preliminary green light to a partial settlement in a class action brought against Argus Group Holdings Ltd. and Tremont International Insurance Ltd. over losses on the insurers' investments with fraudster Bernard L. Madoff.

Judge Thomas P. Griesa of the U.S. District Court for the Southern District of New York on Wednesday gave initial approval to a deal offered by Argus and policyholders certifying the policyholder class for settlement purposes and extending low-interest loans to class members whose assets with the...
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