XL Seeks Prison For Underwriter's Contempt In £10M Case
Law360, London (April 23, 2021, 6:38 PM BST) -- An AXA XL Ltd. unit urged a judge on Friday to order imprisonment for an elusive underwriter it claims has pocketed more than £10 million (£13.8 million) from policy premiums, saying he's attempting to hide assets while flouting court orders with luxury spending.
XL Insurance Company SE's lawyer implored Judge Sara Cockerill to impose an immediate two-year sentence on Paul Alan Corcoran, the sole shareholder and director of Ipors Underwriting Ltd., who are both defendants in the insurer's High Court suit.
The insurer's attorney, Joseph England of Quadrant Chambers, argued the court should proceed in his absence given that he has not participated in...
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