Insurer Asks To Stop Paying Refco Exec's Defense

Law360, New York (September 5, 2008, 12:00 AM EDT) -- An insurance company that was ordered by a federal judge to pay for the defense of former Refco Inc. President Tone E. Grant filed a motion Thursday asking the judge to reverse that order.

Allied World Assurance Co. Inc. claimed in a filing in the U.S. District Court for the Southern District of New York that Grant's involvement in the $1.5 billion fraud that brought down one of the world's largest commodities trading firms was a clear violation of the policy's criminal acts exclusion clause....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.