NU Online News Service, March 16, 4:29 p.m. EDT
Lloyd's underwriters and Arch Specialty Insurance must pay legal defense costs for accused Texas Ponzi scheme operator R. Allen Stanford, a federal appeals court has ruled.
The U.S. 5th Circuit Court of Appeals in New Orleans, in upholding a lower court ruling yesterday, sent the case back to U.S. District Court in Houston for more argument on the coverage question.
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