Liberty Mutual Wants Off Hook For $13M Much Shelist Deal

Law360, New York (July 15, 2011, 1:43 PM EDT) -- Liberty Mutual Insurance Co. on Thursday sued Much Shelist Denenberg Ament & Rubenstein PC in Illinois to avoid contributing to a $13 million settlement the firm entered over its alleged role in the $250 million WexTrust Capital LLC Ponzi scheme.

Liberty contends that it is not liable to Much Shelist under an excess professional liability policy because the firm deliberately excluded Liberty from participating in the final settlement negotiations with the receiver for the WexTrust entities.

“Libety has no obligation to indemnify Much Shelist … because...
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