Ralph Janvey, the court-appointed receiver in the Stanford Financial case, prevailed Monday in his motion to block Allen Stanford’s request to access insurance funds to pay his lawyers. Stanford has been attempting to get a court in the U.K. to permit him to access to such funds, but Bloomberg reports that Janvey argued to U.S. District Judge David Godbey that this tactic was “a blatant attempt to end run this court.” Judge Godbey yesterday ordered Stanford to withdraw his petition from the London Chancery court.
Godbey ruled that
It appears that Stanford is purporting to seek relief before another tribunal relating to the policies. Such actions by Stanford both violate the terms of this court’s prior orders, as well as threaten to interfere with this court’s jurisdiction over the policies.
The insurance policy at issue is from Lloyd’s of London. Janvey claims the bulk of the policy coverage should be reserved for his use to defend Stanford’s companies against claims.
