Insurer Sues To Skirt Coverage For Ponzi-Linked Dallas Firm

Law360, Dallas (September 10, 2012, 6:02 PM EDT) -- Greenwich Insurance Co. has filed a lawsuit in Texas federal court arguing it has no duty to defend or indemnify a Dallas law firm accused in five civil suits of helping Striker Petroleum LLC perpetuate a $57 million Ponzi scheme.

The insurer, which issued $1 million policies to Carter Holmes PLLC and its attorney Steve Holmes, said in its suit filed Sept. 4 that the firm waited too long to file policy claims after it learned of investors' accusations that investments Holmes promoted constituted a Ponzi...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Greenwich Insurance Company v. Carter Holmes PLLC et al


Case Number

3:12-cv-03597

Court

Texas Northern

Nature of Suit

Insurance

Judge

Sam A Lindsay

Date Filed

September 4, 2012

Law Firms

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.