
Lance Armstrong: US insurance firm ready to file $12m lawsuit
A Texan company plans to file a lawsuit next week to recoup $12m from disgraced cyclist Lance Armstrong.
SCA Promotions insured bonuses paid to Armstrong when he claimed his fourth, fifth and sixth Tour de France wins.
The American has admitted using performance-enhancing drugs for all seven of his Tour de France wins.
"We will likely file that lawsuit as soon as next week unless we get a satisfactory response from Armstrong's camp," SCA lawyer Jeff Tillotson said.
“Lance Armstrong neither has the legal right, nor frankly the moral right to keep those funds” - Jeff Tillotson SCA Promotions lawyer
The insurance policy was taken out by Tailwind Sports, owner of the US Postal team, to cover performance bonuses payable to Armstrong if he claimed his fourth, fifth and sixth Tour victories.
SCA initially refused to pay out money covering the bonus for Armstrong's sixth Tour win in 2004, totalling $5m, because it argued Armstrong was not a clean rider.
Armstrong took the company to an arbitration hearing in Dallas in 2005 and won, because the contract between the parties stipulated the insurance money would be payable if Armstrong was the "official winner" of the Tour