Judge upholds sanctions in Conseco loan case

U.S. District Court Judge Larry J. McKinney upheld sanctions against Dennis E. Murray Sr. in his legal battle with Carmel-based insurer Conseco Inc.

Murray, a Sandusky, Ohio, attorney, was a director of Conseco until 2000.

On Feb. 6, McKinney ordered Murray to pay Conseco nearly $86,000 in attorney’s fees to compensate the company for time it spent tracking down documents Murray improperly withheld.

Those documents detailed transfers of assets that Murray made to his wife, Margaret. McKinney declared those assets to be valued at $3.4 million. He also barred Murray from further contesting those determinations.

Murray is one of 11 former Conseco directors and officers that the company sued to recover unpaid stock loans. Conseco claims Murray owes it more than $200 million.

McKinney’s ruling upholds the November findings of Magistrate Judge Jane Magnus-Stinson.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}