Lance Armstrong Faces $10 Million Lawsuit from Insurance Company

by Kathy Jones on  February 9, 2013 at 6:35 PM Celebrity Health News   - G J E 4
Lance Armstrong is facing a $10 million lawsuit from a sports insurance company that is attempting to recover the money which it had given the disgraced cyclist as bonus for winning the Tour de France titles.
 Lance Armstrong Faces $10 Million Lawsuit from Insurance Company
Lance Armstrong Faces $10 Million Lawsuit from Insurance Company

According to Jeffrey Tillotson, attorney for SCA Promotions, the suit, which has not been filed yet, will ask for the return of 12 million dollars in bonus money paid to Armstrong for wins from 2002 to 2005 and for millions in legal costs and interest, CNN reports.

However, Armstrong's attorney, Mark Fabiani, has dismissed the claims of the insurance company, saying that the company has no right to the money because of a settlement agreement between SCA and Armstrong in 2006, under which no party may challenge, appeal or attempt to set aside the arbitration award.

But Tillotson argued that Armstrong had lied throughout his testimony, and said that that the company is going to ask the arbitration panel that heard that testimony to punish him and hold him accountable for his misdeeds.

Armstrong sued SCA after it delayed his 2005 bonus payment and raised questions about allegations involving his use of performance-enhancing drugs. Armstrong testified under oath in that case that he had never doped, and settled the issue with SCA a year later.

Source: ANI

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
Notify me when reply is posted I agree to the terms and conditions

You May Also Like