Stewart Seeks To Dodge Credit Suisse Claim Coverage

Law360, New York (May 18, 2011, 7:48 PM EDT) -- Stewart Title Guaranty Co. sued a Credit Suisse AG branch in Idaho on Wednesday, seeking to escape its duty to cover claims arising from a failed resort development under a $227 million mortgage title insurance policy.

Credit Suisse's Cayman Islands Branch provided misleading information regarding the valuation of the Tamarack Resort and the identity of contractors when attempting to secure the subject insurance policy, thereby relieving Stewart of any duty to defend or indemnify Credit Suisse for mechanics' lien claims on the resort, the insurer argues...
To view the full article, register now.