Madoff Victim Takes $1M Coverage Row To Supreme Court

Law360, Washington (October 21, 2011, 4:04 PM EDT) -- A New York investment firm asked the U.S. Supreme Court earlier this month to resurrect its suit seeking $1.2 million from Travelers Casualty and Surety Co. of America over alleged losses to an employee benefits plan stemming from Bernard Madoff's massive fraud.

Travelers provided the Employee Retirement Income Security Act compliance bond for the plan sponsored by the Schupak Group Inc., but the Second Circuit affirmed in June that the bond did not insure the plan against Madoff's $65 billion scheme. Schupak is asking the high...
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