Insurers Want Out Of Failed $170M NC Skyscraper Suit

Law360, New York (February 1, 2012, 4:08 PM EST) -- Two insurers on Tuesday tried to untangle themselves from an ongoing breach of contract suit stemming from a failed $170 million Raleigh, N.C., skyscraper, claiming that they have no duty to cover the legal costs of the developers' two executives.

Union Insurance Co. and Fireman's Insurance Co. of Washington, D.C., asked a North Carolina federal judge for declaratory judgment freeing them from any duty to defend Dicky Walia and Sanjay Mundra, both Soleil executives, in a lawsuit filed by architectural firm Perkins & Will Inc....
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