New Orleans, Insurer Near Deal In $440M Katrina Suit

Law360, New York (November 23, 2009, 6:00 PM EST) -- The city of New Orleans and an insurer that covered more than 250 municipally owned buildings damaged in Hurricane Katrina could be close to striking a deal in a lawsuit over nearly $440 million in unpaid, disputed claims.

Judge Carl Barbier granted a joint motion for a 45-day extension of stay in the case, requested by both the city and defendant Westchester Surplus Lines Insurance Co. as they negotiated a possible settlement, in the U.S. District Court for the Eastern District of Louisiana.

“The ball is...
To view the full article, register now.