6th Circ. Revives Bank's $32M Ponzi Settlement Coverage Suit

By Hope Patti (February 2, 2024, 4:21 PM EST) -- A bank can seek coverage for a $32 million settlement it paid to resolve a bankruptcy suit alleging it allowed a Ponzi scheme to continue so it could recover loans to the company running the scheme, the Sixth Circuit ruled, reversing a win for a pair of AIG insurers....

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