Circuit City Wins $60M In Warranty Settlements

Law360, New York (September 2, 2009, 5:36 PM EDT) -- Several warranty providers have agreed to pay bankrupt electronics retailer Circuit City Stores Inc. over $60 million to settle their disputes over outstanding warranty claims, while a federal judge has approved the sale of over $14 million of Circuit City's assets.

According to a motion Circuit City filed Tuesday in the U.S. Bankruptcy Court for the Eastern District of Virginia, Service Plan Inc. and several affiliates have agreed to pay Circuit City $23.25 million, while Assurant and several affiliates have agreed to pay over $37 million,...
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