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5th Circ. Asked To Revive Bid For $17M Ponzi Loss Coverage

By Jeff Sistrunk ( November 28, 2016, 6:55 PM EST) -- Cooper Industries Ltd. on Friday urged the Fifth Circuit to revive its bid for coverage of $17 million it lost in a massive Ponzi scheme, contending that a Texas federal judge erred in ruling that an AIG unit didn't have to cover the loss because Cooper invested via loans and therefore didn't "own" the money under the terms of its policy....

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