Legal briefs
Madoff D&O suit dismissed
A lawsuit filed by Madoff-hit Greenwich National Bank and several
other investment institutions against US insurer Travelers and its
subsidiary, St Paul Mercury Insurance Company, was dismissed last
month.
When the criminal nature of Madoff's activities was uncovered, the banks were hit with a class action lawsuit for placing the funds with Bernard Madoff Investment Securities in the first place, and sought support from their insurers to pay their defence costs.
But on 8 April Judge...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
