Insurer Sues To Skirt Coverage For Ponzi-Linked Dallas Firm

Law360, Dallas (September 10, 2012, 6:02 PM EDT) -- Greenwich Insurance Co. has filed a lawsuit in Texas federal court arguing it has no duty to defend or indemnify a Dallas law firm accused in five civil suits of helping Striker Petroleum LLC perpetuate a $57 million Ponzi scheme.

The insurer, which issued $1 million policies to Carter Holmes PLLC and its attorney Steve Holmes, said in its suit filed Sept. 4 that the firm waited too long to file policy claims after it learned of investors' accusations that investments Holmes promoted constituted a Ponzi...
To view the full article, register now.