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October 14, 2004

Former Tyco Executives Sue Insurer for Legal Fees

Two former top executives of Tyco International Ltd. (TYC) have sued to force an insurance company to pay their legal bills as they face a retrial in January on charges of looting the conglomerate of $600 million.

Former Tyco Chief Executive Dennis Kozlowski and Mark Swartz, the company's one-time chief financial officer, asked a court to direct Twin City Fire Insurance to pay legal bills that they claim have surpassed $25 million.

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Posted by Tom Troceen