Insurer's Bid To Rescind Drink Maker's Policy Lives On

Law360, New York (August 5, 2010, 1:10 PM EDT) -- A federal judge has refused to nix Axis Insurance Co.'s suit seeking the rescission of a multimedia liability coverage policy the insurer claims Innovation Ventures LLC obtained by making material misrepresentations about pre-existing contract and trademark disputes on its policy application.

Judge Bernard A. Friedman of the U.S. District Court for the Eastern District of Michigan denied the parties' cross-motions for summary judgment on Axis' rescission request Wednesday, ruling that a decision on whether the insurance contract is void ab initio due to the specialty drink...
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