Travelers Challenges Bank's Madoff Appeal In 2nd Circ.

Law360, New York (May 6, 2011, 6:00 PM EDT) -- A lawyer for a Travelers Group affiliate on Friday tried to fend off Westport National Bank's effort to revive a lawsuit over coverage for losses from Bernard L. Madoff's Ponzi scheme, telling the Second Circuit that the claims are barred.

The Connecticut-based bank sued the insurer contending it improperly denied coverage for defense costs stemming from several customer lawsuits filed against Westport over losses in the massive Ponzi scheme. The bank had transferred customer funds to Madoff for investment purposes.

The lawyer for St. Paul Mercury...
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