Banyon's Link To Rothstein Voids Policy, Insurer Says

Law360, New York (June 4, 2010, 3:58 PM EDT) -- Ironshore Indemnity Inc. has asked a judge to void an excess liability policy it issued to Banyon Capital LLC, alleging the financial adviser concealed its involvement with Scott W. Rothstein’s $1.2 billion Ponzi scheme when it procured the policy.

Banyon’s $10 million coverage should be canceled because it omitted key facts about its business when it applied for the policy, Ironshore contended in an amended complaint filed Thursday in the U.S. District Court for the Southern District of Florida.

The suit arises from the massive Ponzi...
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