Lloyd's Told To Pay Stanford Execs' Defense Costs

Law360, New York (January 26, 2010, 8:00 PM EST) -- A federal judge has ordered underwriters at Lloyd’s of London to honor a disputed directors and officers policy and pony up defense costs for accused Ponzi ringleader Robert Allen Stanford and his cohorts in ongoing criminal and civil litigation.

Following oral arguments Dec. 17, Judge David Hittner of the U.S. District Court for the Southern District of Texas, who is also overseeing the criminal case against the Stanford defendants, on Tuesday granted the defendants’ emergency motion for a preliminary injunction barring the underwriters from withholding payment...
To view the full article, register now.