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The insurer that provided directors and officers liability coverage to Tyco International Ltd. executives must continue to pay the legal bills for former chief executive officer L. Dennis Kozlowski but may be able to seek reimbursement of non-covered claims at a later date, a Manhattan appellate court has ruled. The court held that Federal Insurance Co.'s policy exclusion for claims based on executives' unauthorized personal enrichment may apply in the case of Kozlowski and other Tyco executives.
March 24, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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