CDC Trust Sues AIG Over $9M In D&O Coverage

Law360, Chicago (June 6, 2013, 2:35 PM EDT) -- The trust charged with winding down CDC Corp.'s bankruptcy estate sued AIG Europe Ltd. on Wednesday, claiming the insurer has refused to honor a policy covering nearly $9 million of settlement and defense costs the software company incurred in a lawsuit against its top brass.

In a complaint filed in Georgia bankruptcy court, the CDC Liquidation Trust said it paid out $1.5 million defending a lawsuit accusing CDC officials of perpetrating a smear campaign against hedge fund Evolution Capital Management LLC, and another $7.4 million to...
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