Laura Holt, the former chief investment officer for accused Ponzi schemer Allen Stanford’s financial firm, has reached a settlement with Lloyd’s of London over her defense fees, a federal judge said Tuesday.
“Ms. Holt is not here,” U.S. District Judge Nancy Atlas said at a hearing in Houston. “It is my understanding that she has reached a settlement with the underwriters.”
Stanford, Holt and two other defendants who are accused of a $7 billion Ponzi scheme sued Lloyd’s, saying they are entitled to defense fees under a directors and officers policy.
Lloyd’s has said it should not pay, citing a money laundering clause in the policy.
Hearings the matter are scheduled for most of this week.
Topics Excess Surplus Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI 
AIG Underwriting Income Up 48% in Q4 on North America Commercial 
