Judge Puts 2 Insurers on the Hook for Defense Costs for Stanford, 3 Executives
Senior U.S. District Judge David Hittner of Houston issued on Tuesday a preliminary injunction that orders two insurance companies to advance defense costs to Stanford Financial Group executives facing criminal charges and civil litigation. Allen Stanford and three other Stanford Financial Group defendants -- Laura Pendergest-Holt, Gilberto Lopez Jr. and Mark Kuhrt -- filed the coverage suit after the underwriters in November 2009 retroactively denied them coverage under directors and officers' policies.
