DC Court Revives Carlyle's Coverage Bid For Investor Suits

Law360, Los Angeles (February 12, 2016, 7:58 PM EST) -- A D.C. appeals court on Thursday reversed a decision freeing 16 insurers from defending or indemnifying Carlyle Investment Management LLC against investor class actions over the demise of an offshore mortgage-backed securities investment fund, finding that a professional services exclusion does not unambiguously bar coverage.

A panel of the appellate court disagreed with D.C. Superior Court Judge Frederick Weisberg's conclusion that the private equity titan's primary and excess carriers, including Ace American Insurance Co. and Liberty Mutual Insurance Co., were not responsible for covering a slew...
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.