10th Circ. Axes $1.2M Judgment In Lloyds Coverage Row

Law360, Chicago (May 14, 2013, 2:03 PM EDT) -- The Tenth Circuit ruled Monday that a lower court relied on an erroneous conclusion when it found Lloyds of London failed to sufficiently indemnify Brecek & Young Advisors Inc. in an arbitration alleging the firm's agents mismanaged investment accounts, reversing a $1.2 million judgment in BYA's favor.

In a published opinion, the appeals court found that a Kansas federal court was wrong when it held the claims brought in the 2007 arbitration at issue did not relate back to earlier claims brought against BYA outside the...
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