Banker Assisted In Scheme Against Bankrupt Insurer, Bankruptcy Judge Rules

JACKSON, Miss. - An investment banker dishonestly assisted the president of a bankrupt insurer in the breach of the president's fiduciary duty to the insurer, a Mississippi bankruptcy judge held May 10, granting summary judgment to the insurer's liquidators on their dishonest-assistance claims regarding the alleged fraudulent transfer of the insurer's assets (In re: Condor Insurance Ltd. (in official liquidation); Richard Fogerty and William Tacon in their capacity as the joint official liquidators of Condor Insurance Ltd. v. Condor Guaranty Inc., et al., No. 07-51045, Adv. Proc. No. 07-05049, S.D. Miss. Bkcy.; 2012 Bankr. LEXIS 2099).

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