Lion Holding


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    Milo/Ferguson dispute with Hannover Re over Clarendon sale proceeds finally ends

    A $75 million breach of contract lawsuit stemming from the sale of the Clarendon Insurance Group to Hannover Re in 1999 has been settled just 18 days before the start of trial. The complaint by former Clarendon principals Ralph Milo and Robert D. Ferguson against Lion Holding Inc., a Delaware corporation, was dismissed with prejudice at the U. S. District Court for the Southern District of New York on March 13, 2008, with each party bearing its own costs and attorneys' fees. There is nothing in the court records to indicate whether any money changed hands as part of the settlement.