Insurer Asks To Stop Paying Refco Exec's Defense

Law360 (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....
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