Stanford's Lies Preclude Coverage, Lloyd's Says

Law360, New York (August 25, 2010, 7:03 PM EDT) -- Attorneys at Lloyd’s of London have reportedly told a judge that the insurer should not have to pay the legal costs for alleged Ponzi schemer Robert Allen Stanford because his lies to investors disqualify him from coverage.

Akin Gump Strauss Hauer & Feld LLP attorney Barry Chasnoff, who represents Lloyd’s, told Judge Nancy Atlas of the U.S. District Court for the Southern District of Texas on Tuesday that the insurer’s policy does not pay out in cases of money laundering by a director or officer, the...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Laura Pendergest-Holt v. Certain Underwriters at Lloyd's of London


Case Number

4:09-cv-03712

Court

Texas Southern

Nature of Suit

110(Insurance)

Judge

Judge Nancy F. Atlas

Date Filed

November 16, 2009

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.