GeoStar Seeks Immediate Axis Excess D&O Coverage

Law360, New York (November 2, 2009, 7:22 PM EST) -- GeoStar Corp., which came under fire from investors over its side business in thoroughbred horse breeding, asked a federal court Monday to require Axis Reinsurance Co. to immediately advance the company defense costs for numerous investment fraud suits while a coverage dispute between the two parties plays out.

GeoStar filed a motion for expedited relief in the U.S. District Court for the Eastern District of Michigan, seeking a declaration that Axis must advance defense costs for the lawsuits, many of which are part of multidistrict litigation...
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