Insurers Sue Milberg LLP To Void Liability Contracts

Law360, New York (August 27, 2008, 12:00 AM EDT) -- A group of London insurers has sued Milberg LLP to recover insurance payments made to fund the defense of a massive kickback investigation that has led to prison time for two of the firm's most renowned attorneys.

In a complaint filed Tuesday, underwriters from Lloyd's of London asked a court to declare that the insurance contracts for the firm should be rescinded and to award at least $4.8 million in damages to cover the insurance payouts.

The suit argues that the contracts should be rescinded because...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.