Stanford Brokers Battle Receiver Over D&O Policy

Law360, New York (August 7, 2009, 1:58 PM EDT) -- Two Stanford Group Co. brokers caught up in the civil fraud case against Texas billionaire Robert Allen Stanford have joined efforts to save $50 million in potential directors and officers insurance proceeds from clawback efforts by the court-appointed receiver in the action.

The brokers, David Haggard and Steve Slewitzke, asked the U.S. District Court for the Northern District of Texas on Thursday to intervene in an expedited bid by Stanford co-defendant Laura Pendergest-Holt to shield the proceeds of the policies from the receivership estate.

Haggard and...
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