HOUSTON – United States District Judge Nancy Atlas has denied a motion for contempt that disgraced financier Allen Stanford filed in his insurance coverage case.
On August 19, Stanford filed the motion seeking a contempt finding against Stanford Financial Group’s insurance companies on the ground they allegedly failed to meet a court-ordered reimbursement schedule for his criminal defence costs.
But the underwriters in a motion opposing Stanford’s motion allege that any delays in legal fee payments to Stanford’s lead criminal defence attorney, Robert S. Bennett, were of Bennett’s own doing.
Underwriters Lloyd’s of London and Arch Specialty Insurance Company claimed that they have attempted to accommodate Bennett and had “explained precisely why delays have occurred as a result of Bennett’s own actions”.
They alleged Stanford’s motion for contempt “disregards these realities and repeatedly misstates the record.”
The underwriters alleged Bennett Nguyen submitted its most recent fee request five days after a deadline imposed by the court’s payment schedule, which meant they did not have to issue payment by July 30.
A jury trial is scheduled to begin on January 24 next year.
(CMC)
