Atty Tied To $8.5M Ponzi Scheme Sanctioned In Insurer's Suit

Law360, New York (September 13, 2013, 5:16 PM ET) -- A New Jersey federal judge on Thursday sanctioned the former managing partner of a Philadelphia law firm for evading a deposition, nixing the attorney's answer and remaining counterclaim against professional liability carrier Colony Insurance Co. in litigation with roots in an alleged $8.5 million Ponzi scheme.

U.S. District Judge Noel Hillman threw out former Kwasnik Kanowitz & Associates PC managing partner Michael Kwasnik's claim that Colony breached the insurance contract — the only counterclaim that remained standing after a December ruling gutted Kwasnik's case against the...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required