Axis Needn't Cover Patriarch In SEC Probe, 2nd Circ. Affirms
By Jeff Sistrunk ( December 6, 2018, 4:31 PM EST) -- The Second Circuit on Thursday affirmed that Axis Insurance Co. doesn't owe Lynn Tilton's Patriarch Partners LLC $5 million to cover the costs of a U.S. Securities and Exchange Commission investigation and enforcement action, saying coverage is barred because Patriarch was aware the SEC had the firm in its crosshairs before the Axis policy went into effect....
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