Axis Gets Win In Patriarch Coverage Over Tilton Probe Case

Law360, New York (September 22, 2017, 5:53 PM EDT) -- A New York federal judge Friday denied Lynn Tilton’s Patriarch Partners LLP insurance coverage for a $20 million U.S. Securities and Exchange Commission probe, saying it was already under investigation when it took out $5 million in excess coverage from Axis Insurance Co.

Patriarch had argued the SEC investigation did not formally get underway until the firm was served with its first subpoena in February 2012, but U.S. District Judge Valerie Caproni found it began when the SEC issued its first order of investigation in early...
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