Axis Appeals $3.2M GeoStar D&O Award To 6th Circ.

Law360, New York (May 25, 2010, 2:36 PM EDT) -- Axis Reinsurance Co. has appealed a judge's order to cough up $3.2 million in defense costs to energy firm GeoStar Corp., which has been battling investor lawsuits over an allegedly fraudulent investment scheme involving thoroughbred horse breeding.

Axis filed its notice of appeal to the U.S. Court of Appeals for the Sixth Circuit on Monday. On Friday, Judge Thomas L. Ludington of the U.S. District Court for the Eastern District of Michigan had denied Axis' motion to overturn an earlier order forcing the reinsurer to advance...
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