Pharos Sues Insurer Over Fees Tied To Gov't Contract Suits

Law360, New York (July 8, 2013, 5:30 PM EDT) -- Private equity firm Pharos Capital Group LLC is suing Nutmeg Insurance Co. over the its alleged failure to cover $1.2 million in attorneys' fees in a pair of lawsuits tied to the firm's financing of a multimillion-dollar government contract, according to a complaint filed Monday in Texas federal court.

Nutmeg has repeatedly dodged its obligation to cover costs stemming from two lawsuits against Pharos and its managers, according the complaint. The suits, which were over funds provided to Homeland Security Corp. for a contract awarded by...
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