Judge Won't Bar Stanford Bank Execs' D&O Claims

Law360, New York (October 9, 2009, 6:46 PM EDT) -- Lloyd’s of London is not barred from disbursing proceeds from a $50 million directors and officers insurance policy to fund the defense of accused securities fraudster R. Allen Stanford and other top executives at his Stanford International Bank and related entities, a federal judge ruled Friday.

However, noting that the insurer may ultimately deny coverage under the policies, Judge David C. Godbey's ruling, in the U.S. District Court for the Northern District of Texas, said none of the defendants was necessarily entitled to have defense costs...
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