Runoff Insurer Owes No Advancement Of Litigation Expenses, Federal Judge Says

Mealey's (September 11, 2019, 11:08 AM EDT) -- NEW YORK — A federal judge in New York on Sept. 10 granted summary judgment to a runoff insurer because a criminal conviction against an investment company’s former executive extinguishes rights to indemnification and advancement of litigation expenses under investment management agreements (IMAs) (In re:  Platinum-Beechwood Litigation, No. 18-6658, David Levy v. Senior Health Insurance Company of Pennsylvania, No. 19-3211, S.D. N.Y.)....