Bank Asks To Trim Madoff Defense Coverage Suit

Law360, New York (October 21, 2009, 2:50 PM EDT) -- Associated Community Bancorp Inc., facing litigation related to losses from Bernard L. Madoff's massive Ponzi scheme, has asked a federal judge to allow the bank to trim an indemnity claim from its suit against The Travelers Cos. Inc. over defense costs.

In a motion filed Tuesday in the U.S. District Court for the District of Connecticut, Associated, subsidiary Connecticut Community Bank NA and Connecticut Community division Westport National Bank asked the judge to let them amend their complaint, dropping a claim of declaratory judgment as to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.