BDO Seidman Insurers’ Suit Over $95M Payment Nixed

Law360, New York (July 5, 2011, 2:20 PM EDT) -- A Florida federal judge tossed a suit brought by insurers seeking to avoid paying $95 million directly to an estate that won a $130 million judgment against accounting firm BDO Seidman LLP, according to court documents filed Friday.

BDO Seidman's insurers launched the suit after the estate of George E. Batchelor threatened to pursue a third-party bad faith claim against them unless they handed over $95 million to cover the judgment in the underlying suit, which accused BDO Seidman of negligence in its audit of a...
To view the full article, register now.

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.