Aon, Ex-CEO Of Bolivia Units Settle Row Over Use Of Funds

Law360 (July 30, 2020, 9:11 PM EDT) -- An Illinois federal judge on Wednesday signed off on a global settlement of several disputes between insurance brokerage Aon Corp. and the former CEO of two of its Bolivia subsidiaries, whom Aon had accused of using company money for his own ventures.

Aon and former subsidiary CEO Jose Luis Contreras Cabezas struck a deal to end the brokerage's suit accusing him of misusing company money, as well as several other actions pending in Bolivia. The deal involves a confidential payment from Aon to Contreras and a mutual release of claims, and both sides denied any wrongdoing and liability.

The court called the parties' agreement...

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