Insight and Intelligence on the London & International Insurance Markets

4 February 2012

Lloyd's intervenes in SEC case against Stanford

14 September 2009

The dispute over the division of spoils from insurance cover bought by the collapsed Stanford Financial Group (SFG) has deepened, as Lloyd's underwriters last week filed a motion to intervene in the lawsuit between the Securities and Exchange Commission (SEC) and Stanford International Bank Ltd.

Lloyd's syndicates argue that $50mn worth of directors' and officers' (D&O) and professional indemnity (PI) policy proceeds should be removed from the receivership estate - where they were placed by the court in June -...

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