Lloyd’s and Akin Gump Trying to Skip Out on Stanford Legal Fees?

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The Sydow Firm v. Certain Underwriters of Lloyd’s (D.C. Texas November 12, 2010)

The Sydow Firm, the firm retained to represent alleged Ponzi scheme mastermind Allen Stanford has filed a petition seeking payment of nearly $650,000 in legal fees. The petition filed in Texas Federal District Court says that Lloyd’s and Akin Gump are refusing to pay the fees owed under three separate policies insuring Stanford.

While Lloyd’s cannot choose counsel and agreed to the Sydow Firm, Lloyd’s and Akin Gump have reserved the right to review the billed time and have apparently objected to various services.

This is simply the most recent dispute in a long standing battle over insurance coverage for the $8 Billion Ponzi scheme involving Stanford that is the subject of an ongoing criminal and civil investigation.

For a copy of the petition, click here

Brian Biggie and Sharon Angelino