Lloyd's Bridles At D&O Claims In Stanford Fraud Suit

Law360, New York (September 11, 2009, 6:41 PM EDT) -- With the court-appointed receiver and an indicted executive of Stanford International Bank Ltd. vying for the proceeds of $50 million in directors and officers policies, Lloyd’s of London has asked to intervene in the massive fraud case to fend off the would-be beneficiaries.

Underwriters at Lloyd’s of London filed a motion Thursday in the U.S. District Court for the Northern District of Texas to intervene in the U.S. Securities and Exchange Commission’s $8 billion fraud suit against Stanford, contending that neither defendant Laura Pendergest-Holt, former chief...
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