Chubb Unit to Pay Kozlowski’s Legal Bills
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L. Dennis Kozlowski, the former chief executive of Tyco International Ltd. on trial for theft and stock fraud, won a bid to have a Chubb Corp. unit pay his legal bills until a separate lawsuit over his insurance coverage is resolved.
New York state Supreme Court Justice Helen Freedman granted Kozlowski’s request to have Federal Insurance Co. pay his legal bills while a legal battle between the parties over Tyco’s directors and officers insurance policy continues.
Shares of Warren, N.J.-based Chubb fell $1.16 to $72.50. Shares of Tyco fell 10 cents to $28.98. Both trade on the NYSE.
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