Insurer Must Cover TCF Settlement Over Portfolio Co. Buy: Suit

Law360, Chicago (September 27, 2012, 6:54 PM EDT) -- Private equity fund Thoma Cressey Fund VIII LP sued Houston Casualty Co. in Illinois state court Wednesday, alleging the insurer has wrongfully refused to cover the settlement of a suit accusing the fund of failing to cough up $7 million it promised a portfolio company.

The fund is seeking a court order declaring that Houston must indemnify it under a private equity professional and management liability insurance policy for the confidential settlement TCF struck to resolve a underlying suit, which was filed on behalf of former...
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