F-Squared Trustee Seeks $7.7M Insurance Payout At 1st Circ.
Law360 (April 4, 2019, 1:53 PM EDT) -- F-Squared Investments’ bankruptcy trustee has asked the First Circuit to find it’s owed a $7.7 million insurance payout for legal fees spent during the investigation that helped bring the company down, saying a lower court deprived it of coverage by miscalculating the probe’s start date.
In an appeal filed last week, trustee Craig Jalbert argued the U.S. Securities and Exchange Commission probe started after the effective date of F-Squared Investments Inc.’s policies with XL Specialty Insurance Co. and Zurich American Insurance Co. Jalbert said the SEC's earlier internal investigatory order that the lower court found marked the start of the investigation...
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