Federal Insurance Fights To Pull Dreier Policy

Law360, New York (May 4, 2009, 12:00 AM EDT) -- Federal Insurance Co. has asked a bankruptcy court to lift the automatic stay shielding Dreier LLP from creditors, hoping to revoke a professional liability policy issued to firm founder Marc S. Dreier, who allegedly defrauded investors of more than $100 million.

The insurer asked the U.S. Bankruptcy Court for the Southern District of New York on Friday to unfreeze the stay as it seeks to void the policy with the tarnished law firm.

“Federal is entitled to rescind the policy based on, among other things, indisputably...
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