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SEC and US Attorney accuse Costa Rican life insurance bond company of $670 million fraud
- Edwards Wildman Palmer LLP
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- USA
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- January 21 2011
Both the Securities and Exchange Commission and the U.S. Attorney's Office have brought actions against Costa Rica-based Provident Capital Indemnity, LTD, an insurance and reinsurance company that purported to provide bonds guaranteeing life insurance settlements, but was instead allegedly perpetrating a $670 million fraudulent scheme
Court finds insurers no longer required to advance defense costs for certain Stanford individuals due to money laundering exclusion
- Edwards Wildman Palmer LLP
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- USA
- -
- November 2 2010
After a preliminary injunction hearing, the United States District Court for the Southern District of Texas has determined that D&O insurers for the Stanford Financial Group and various related entities are no longer required to advance defense costs relating to criminal charges and civil litigation filed against Mark Kuhrt, Gilbert Lopez and R
Insurers’ law firm engaged in multi-pronged legal battle against accused Ponzi artist
- Edwards Wildman Palmer LLP
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- USA
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- September 8 2010
The law firm of Akin Gump Strauss Hauer & Feld, LLP is seeking to quash a subpoena from accused Ponzi schemer Allen Stanford in the U.S. District Court for the Southern District of Texas, where Mr. Stanford’s criminal case is pending
Judge orders insurer to cover R. Allen Stanford's defense costs
- Edwards Wildman Palmer LLP
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- USA
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- February 17 2010
According to the Houston Chronicle, U.S. District Judge David Hittner, who is presiding over R. Allen Stanford's criminal proceeding, has ordered Lloyd's of London to pay for the criminal defense attorneys defending Mr. Stanford and two other officers of his company who were recently indicted for allegedly running a $7 billion Ponzi scheme
High Court finds that claim is excluded as a result of director's aiding and abetting
- Edwards Wildman Palmer LLP
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- United Kingdom
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- February 4 2010
In the case of Goldsmith Williams v Travelers Insurance Company Limited 2010 EWHC 26, Mr Justice Wyn Williams considered the question of whether a company had acted fraudulently
Construction of termination and release agreement; claims in fraud
- Edwards Wildman Palmer LLP
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- United Kingdom
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- December 30 2009
1) Cavell USA (2) Kenneth Edward Randall v (1) Seaton Insurance (2) Stonewall Insurance 2009 EWCA Civ 1363 concerned the construction of a termination and release agreement, which provided for English law and jurisdiction and, under clause 13, for a full release by Randall from "all actions, causes of action, suits, claims and demands whatsoever, whether at law or equity…save…(iii) in the case of fraud" on Randall's part
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- Author - Victoria Anderson
- Author - Jeanne Kohler
- Workarea - Litigation
- Workarea - Insurance & Reinsurance
- Workarea - White Collar Crime