First Horizon Seeks $25M Coverage For Sentinel Suits

Law360, New York (July 19, 2011, 1:58 PM EDT) -- First Horizon National Corp. on Monday sued underwriters with Lloyd's of London and Aspen Insurance UK Ltd. in Tennessee federal court, seeking up to $25 million in coverage for two suits alleging it improperly sold collateralized debt obligations to now-bankrupt Sentinel Management Group Inc.

The underlying lawsuits brought by the liquidation trustee of Sentinel Management Group Inc. against First Horizon subsidiaries and employees together seek at least $199 million in damages for alleged errors and omissions in the sale of certain collateralized debt obligations known as...
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