Lloyd's, Others Can't Shake MassMutual Madoff Suit

Law360, New York (July 26, 2010, 7:03 PM EDT) -- A Delaware judge has rejected attempts by Lloyd's of London and other bond underwriters to dismiss MassMutual Financial Group's suit seeking defense coverage for litigation spawned by Bernard L. Madoff's massive Ponzi scheme.

Vice Chancellor J. Travis Laster of the Delaware Court of Chancery on Friday denied several motions made by bond underwriters to get the case thrown out, saying that both sides presented equally viable interpretations of terms at issue in the dispute.

“On a motion to dismiss, the court cannot choose between reasonable interpretations,”...
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