• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2010 / February / 07 / Fifth Circuit Stays Order on Stanford Legal Fees

Fifth Circuit Stays Order on Stanford Legal Fees

By Amanda Harding on February 7, 2010, 7:58 am

On Thursday, the Fifth Circuit Court of Appeals stayed a Houston federal judge’s order requiring Lloyd’s of London insurers to pay for the lawyers for R. Allen Stanford and his co-defendants. Last month, U.S. District Judge David Hittner ordered the insurance company to pay the legal costs within 10 days.

The Houston Chronicle reports that Lloyd’s of London refused to pay for criminal defense counsel when former Stanford CFO James M. Davis pleaded guilty last August. The insurers determined that the defendants participated in money laundering, and therefore it need not cover the costs under the terms and conditions of the policy. However, Davis did not plead guilty to money laundering, and no court has found that anyone involved in the case laundered money, according to the Houston Chronicle.

Arguments will be held on Feb. 25 in New Orleans.

Read the Houston Chronicle article

Blog Widget by LinkWithin

Posted in Criminal | Tagged Fees, Stanford Financial

« Previous Next »

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.