Alliant
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The parties did not disclose whether any money changed hands to end the legal proceedings. -
The complaint was filed yesterday in Illinois and judge Martha Pacold is overseeing the case.
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The complaint names surety executives John Thomas, Andrew Bennett and Jennifer Boyers Gullett as defendants.
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A tougher environment for debt financing and a potential recession will reverse some of the remarkable tailwinds of recent years.
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The parties did not disclose whether any money changed hands to settle the legal proceedings.
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Based in Houston, James Chenoweth will focus on providing tax, litigation and M&A risk solutions to private equity firms and corporations.
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The dispute follows a complaint McGriff filed against Alliant and 3 former execs, accusing them of “breaching their valid and enforceable restrictive covenants.”
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In his new position, the executive will oversee the operations of the company’s 13 specialty divisions.
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The brokers asked a judge to adjourn the conference set for Thursday after reaching an agreement to settle the case.
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The executive joined Alliant in 2011 and until recently was president of the broker’s specialty division.
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Alliant has hired Brittany Thune Lindberg as vice president, mergers and acquisitions.
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According to a recent M&A risks market report, nearly 70% of US transactions use R&W coverage and four out of five PE deals in North America use M&A insurance.
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