Insurer Seeks To Rescind SK Foods' Policies

Law360, New York (July 16, 2010, 3:09 PM EDT) -- Allied World National Assurance Co. has filed a lawsuit in an effort to rescind insurance policies it issued to now-defunct tomato processor SK Foods LP, alleging that the company misrepresented its financial health by concealing looming bribery and product quality scandals.

The company lodged a complaint Wednesday in the U.S. District Court for the Eastern District of California, asking the court to declare several provisions of a primary and an excess policy void in light of alleged misrepresentations by SK Foods of its financial condition during...
To view the full article, register now.