5th Circ. Hears Co. Waived Rights In $33M Life Insurance Row

Law360, Chicago (October 19, 2012, 6:58 PM EDT) -- Lincoln National Life Insurance Co. told the Fifth Circuit on Thursday that fraud and breach of contract claims it faced from Cowboy Athletics Inc. and billionaire T. Boone Pickens were properly axed, partly because Cowboy waived its right to cancel the policies behind an alleged $33 million scam.

The insurer argued that a Texas federal court was correct when it found that Cowboy, by signing delivery receipts for the life insurance policies at issue in 2007, had falsely represented that it physically received the policies, though...
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