Insurance company to file $10 mn lawsuit against Lance Armstrong

Lance Armstrong

The sports insurance company, which paid disgraced cyclist Lance Armstrong more than 10 million dollars for winning Tour de France titles, is now planning to file a lawsuit against Armstrong to recover the money. 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.

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