Listed below are court cases by or against Lloyd's, Lloyd's insurance syndicates, their US banker Citibank, and their US lawyers, LeBouef, Lamb, Greene & MacRae, and Lloyd's Names. This section includes civil complaints of investor fraud, actions by state agencies responsible for securities and insurance regulation, and SEC amicus curiae briefs among other things. Also of note are a law review article on choice of law and choice of forum clauses by Courtland H. Peterson, and a letter to the insurance commissioners and state attorneys general of the various states from Thomas L. Seifert, Esq.
Lloyd's
has never refuted any of the factual allegations and findings against
them in the following cases. They have instead circumvented the disclosure
and hearing of evidence under US law by having cases dismissed from
US courts and sent to England, where Lloyd's has immunity from lawsuit.
Failing removal to UK jurisdiction, they have settled cases out of court
with the records sealed in preference to having the evidence against
them become public.
United States cases | Canadian cases | United Kingdom cases
Newest addition: Affidavit of Ian Hay Davidson, 4 March 2005
- Cases Against Lloyd's
- Missouri
Court Rejects Lloyd's American Trust Funds & Equitas as Pre-Answer Security
in Transit Casualty Case. Court orders Lloyd's to Post over $25,000,000
in Letters of Credit.
- Letter
to State Insurance Commissioners, Attorneys General, et al,
from Thomas L. Siefert, P.C., re the significance of Court Orders
in the Transit Casualty Case.
- Report
and Recommendations as to Order of Security, re Lloyd's Syndicate
109 et al, by Special Master James P. Dalton, July 23, 1998.
[Exhibit A]
- Report
and Recommendations as to Order of Security, re Lloyd's Syndicate
553 , by Special Master James P. Dalton, July 23, 1998. [Exhibit
B]
- Order
by Judge Patricia S. Joyce, September 28, 1998, requiring Lloyd's
Syndicate 109 et al to post a letter of credit in the amount of
$15,835,312. [Exhibit C]
- Order
by Judge Patricia S. Joyce, September 28, 1998, requiring Lloyd's
Syndicate 553 to post a letter of credit in the amount of $10,787,035.
[Exhibit D]
- Transit's
Pre-Hearing Brief on Lloyd's American Trust Fund, July 25, 1996,
by Transit Casualty Company in Receivership. [Exhibit E]
- Transit's Supplemental Brief on Pre-Answer Security, February 25, 1998, by Transit Casualty Company in Receivership. [Exhibit F]
- Letter
to State Insurance Commissioners, Attorneys General, et al,
from Thomas L. Siefert, P.C., re the significance of Court Orders
in the Transit Casualty Case.
- West vs. Lloyd's
Note: West v. Lloyd's has been settled out court. The settlement is sealed. We have no details of the settlement to report.- Denial
of Lloyd's Motion to Dismiss California Superior Court, September
1 1998
- Court of Appeals, Second Appellate District, Reversal of [prior] Superior Court decision, October 23, 1997 (Read excerpts here).
- Motion to Remand, March 3, 1998
- Order
to Remand, April 29, 1998
- Denial
of Lloyd's Motion to Dismiss California Superior Court, September
1 1998
- Richards vs. Lloyd's
- Petition for Writ of Certiorari to the US Supreme Court
- Ninth
Circuit Court of Appeals En banc Decision, February 3,1998
- Dissent to En Banc Decision of THOMAS, Circuit Judge, with whom Judge Pregerson and Judge Hawkins join, February 3, 1988
- SEC amicus brief, May 1997
- Ninth Circuit Court of Appeals Ruling, March 1997
- SEC
amicus brief, May 1996
- Leslie vs. Lloyd's
- Excerpts
from District Court ruling, September 1994
- Excerpts
from District Court ruling, September 1994
- Allen vs. Lloyd's
- Roby vs. Lloyd's
- Riley vs. Lloyd's
- Bonny vs. Lloyd's
- Missouri
Court Rejects Lloyd's American Trust Funds & Equitas as Pre-Answer Security
in Transit Casualty Case. Court orders Lloyd's to Post over $25,000,000
in Letters of Credit.
- Cases against LeBoeuf Lamb Greene
& MacRae
- Baker vs. LeBoeuf - on appeal, January 31, 1997
- Abeles/West vs. LeBoeuf
- Rhodenbaugh vs. LeBoeuf
- State Securities Commissions
against Lloyd's
- Cease & Desist Orders Issued against Lloyd's
- State of California Complaint Against Lloyd's
- North American Securities Administrators Association (NASAA)
- Expert Opinion on Lloyd's Central Fund. U.S.
The
Society of Lloyd's v. Raymond C. Lee, US District Court, Colorado
Answer, Counterclaim,
and Jury Demand
In
Re Lloyd's American Trust Fund Litigation (Names v. Citibank)
Opinion - Judge Sweet, November
26, 2002
In
Re Lloyd's American Trust Fund Litigation (Names v. Citibank)
Fairness Hearing,
September 10, 2002
Ashenden
Reply Brief, July 26, 2000 - - - Introduction
Previously filed:
Lloyd's
Reply Brief, June 30, 2000 - - - Summary
of Argument
Ashenden Brief of April 26, 2000
- - - Summary of Argument
Ashenden Brief of March 22, 2000
- - - Summary of Argument
Ashenden
Appeal, Lloyd's v. Ashenden - - - Summary
of Argument
(filed November 29, 1999)
"Choice
of Law and Forum Clauses and the Recognition of Foreign Country Judgments
Revisited through the Lloyd's of London Cases"
By: Professor Court Peterson,
as published in the
Louisiana Law Review,
2000.
-
Canada
- Hongkong Bank of Canada v. Hendrie (excerpts from the proceedings) (Testimony of Ian Richard Posgate)
Jaffray v Lloyd's:
Further hearing dates set on Jaffray Appeal - Press Statement - 20 June 2001
Jaffray Appeal - for declaration of mistrial, referral to the European Court of Justice, and leave to appeal in England.
Ruling of Justice Cresswell in Lloyd's v Jaffray and counterclaims, 3 Nov. 2000
Closing
Statement of Sir William Jaffray
Commercial Court, the Hon. Justice Cresswell presiding, 10 July 2000
Justice Cresswell's questions to Mr. Goldblatt, 20 July 2000
Merrett Case excerpts (for the entire judgement, View 938KB or Download 281KB)
In the U.K., court cases involving Lloyd's losses fall into two main categories. First are cases that have been filed by Lloyd's against Names to collect money allegedly owed by Names to pay for billions of dollars in insurance claims that began exceeding premium reserves in 1991 (for the 1988 ìyear of account.î)
The other type of litigation proceeding in England includes cases brought by investor/Names against Lloyd's members agents, managing agents and syndicate managers. Although a number of cases against particular agents, syndicates and their management have resulted in court rulings which were seemingly favorable to Names -- with two such awards exceeding $700 million each -- no money has ever been recouped by a Name who was a plaintiff on any of these "successful" cases. Soon after court cases were ruled in favor of defrauded investors, Lloyd's ruling Council unilaterally and retroactively enacted by-laws that modified investment contracts with Names. These contractual amendments, which are illegal under U.S. law, were permitted by English regulators and judges in order to "save" Lloyd's from ruin. The effect of the changes to the investment contracts was that all court awards achieved by Names were hijacked by Lloyd's and redirected into Lloyd's Central Fund to pay for alleged losses on syndicates that were not part of the litigation.
- Defensive Cases
- Lloyd's vs. Wilkinson et al
- Lloyd's vs. Mason
- Lloyd's vs. Clementson
- Offensive Cases
- Merrett
- Gooda Walker
- Feltrim
- Oakley Vaughn
- Outhwaite
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