Lloyd's 'Deserted' Stanford Exec In Ponzi Suits: Atty

Law360, New York (March 19, 2009, 12:00 AM EDT) -- The beleaguered chief investment officer of Stanford Financial Group Co. has sued Lloyd's of London in state court, alleging that the insurer has abandoned its duty to defend her over her alleged role in an $8 billion Ponzi scheme and asking for at least $40 million in punitive damages.

In the District Court of Dallas County, Texas, on Tuesday, Stanford executive Laura Pendergest-Holt sued Lloyd's, which the complaint states insured her under its directors and officers liability and company indemnity policy.

The suit seeks a declaration...
To view the full article, register now.