Court Defers Ruling On Stanford D&O Coverage

Law360, New York (December 17, 2009, 2:56 PM EST) -- Underwriters refusing to cover the costs of defending accused Ponzi kingpin Robert Allen Stanford and his cohorts have failed to crush a lawsuit over their obligations, even though a federal judge acknowledged the suit openly defied a court order.

On Wednesday, Judge David C. Godbey of the U.S. District Court for the Northern District of Texas ruled that the judge overseeing the criminal case against the Stanford defendants is in a better position to determine if Lloyd’s of London and Arch Specialty Insurance Co. are required...
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