Liberty Mutual Settles $8M Suit Over Brooklyn Complex

Law360, New York (March 1, 2012, 2:37 PM EST) -- A federal judge said Wednesday that a New York developer had settled its suit claiming Liberty Mutual Insurance Co. was required to pay it an $8.2 million judgment related to a contractor's alleged breach of a bonded construction agreement.

U.S. District Judge Shira A. Scheindlin ordered the action discontinued, saying plaintiff Hicks & Warren LLC and the insurer had told the court the matter was resolved. In the event the settlement is not effected in 30 days, either party can move the court to restore the...
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