5th Circ. Wrong To Nix $65M Stanford Ponzi Deal, Lloyd's Says

Law360 (August 1, 2019, 6:38 PM EDT) -- Lloyd's of London and a receiver in an insurance dispute involving R. Allen Stanford's $7 billion Ponzi scheme on Wednesday said a Fifth Circuit panel's order sinking a $65 million settlement contradicts a more recent ruling by the same court, asking the entire Fifth Circuit to hear the case.

The three-judge panel's decision to vacate the $65 million settlement hinged on a provision that barred future claims against the underwriters, but a separate Fifth Circuit panel upheld a deal last week that similarly barred additional Stanford-related claims against defendants. The split between the opinions in this case and the Zacarias case...

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