We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Conseco Ex-Chief Loses Appeal Over $72M Debt

Law360 (November 9, 2005, 12:00 AM EST) -- A three-judge panel of the Indiana Court of Appeals on Tuesday unanimously upheld a lower court's ruling ordering Conseco Inc. founder Stephen Hilbert to pay $72 million to his former company.

In the late 1990s, Hilbert borrowed more than $162 million from the company he founded to purchase Conseco stock, which became worthless during its bankruptcy reorganization in 2003. The loan program, now prohibited under federal law, was created in 1996, and more than 150 employees participated in it.

Hilbert has repaid little of the more...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.