Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees By Cointelegraph
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Sam Bankman-Fried is seeking to use FTX’s insurance policies to cover his legal expenses, according to a court filing on March 15.
The former FTX CEO’s legal counsel requested in a motion to permit insurers to advance or reimburse his defense costs and fees under directors and officers (D&O) insurance policies held with Relm Insurance and Beazley Insurance. As per the filing, the policies “provides priority of payment to individual insureds with un-indemnified loss like Mr. Bankman-Fried.” Meaning the former CEO would be on top of the FTX payout list.
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Sam Bankman-Fried is seeking to use FTX’s insurance policies to cover his legal expenses, according to a court filing on March 15.
The former FTX CEO’s legal counsel requested in a motion to permit insurers to advance or reimburse his defense costs and fees under directors and officers (D&O) insurance policies held with Relm Insurance and Beazley Insurance. As per the filing, the policies “provides priority of payment to individual insureds with un-indemnified loss like Mr. Bankman-Fried.” Meaning the former CEO would be on top of the FTX payout list.
Continue Reading on Coin Telegraph
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