Key Energy Seeks $1M From Insurer For Settlement

Law360, New York (November 6, 2009, 1:07 PM EST) -- Oil field servicing company Key Energy Services Inc. is asking a federal judge for summary judgment to force Twin City Fire Insurance Co. to pay it about $914,000 to partially cover $21.9 million Key paid to settle two securities and shareholder lawsuits brought against it.

Key filed its motion for summary judgment in the U.S. District Court for the Western District of Texas on Thursday, saying that Twin City should pay under Key's directors and officers insurance policy because the policy does not unambiguously preclude coverage....
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