First NBC Bank founder and former president Ashton Ryan Jr. has asked a federal bankruptcy judge to let him begin collecting from insurance policies long held by the failed bank to cover mounting legal costs tied to his role there.
The bank was seized by the government in April. Well before then, the bank had taken out five insurance policies aimed at protecting Ryan from personal liability, according to a recent legal filing in federal court in New Orleans.
In addition to a $15 million primary insurance policy held by Zurich American Insurance Co., Ryan had taken out four policies that…
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