Oh it’s getting hard to escape this word connected to Mr. Stern. Just last month GMAC dropped a bombshell of it’s own in case you missed it.
An insurer for former foreclosure giant David J. Stern wants out of its policy, saying in a lawsuit that the company doesn’t cover “claims based upon, arising out of, directly or indirectly resulting from or in consequence of, or in any way involving a dishonest, fraudulent, criminal, or malicious act or omission.”
Admiral Insurance Company filed a lawsuit Thursday in the United States District Court, Southern District of Florida, saying it shouldn’t be responsible for defense expenses in two class-action claims filed against Stern in Palm Beach County. Stern had a $3 million policy with Admiral that expired last year.
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