Chartis Partly Escapes Suit Over Losses On $103M Hotel Loan

Law360, New York (May 07, 2013, 2:18 PM ET) -- A New York state judge on Monday tossed part of a suit alleging that Chartis Specialty Insurance Co. failed to cover an investment firm for losses after a Mexican court ruled that bankrupt businesses didn’t have to make payments on a $103 million loan to hotel operators.

In a mixed ruling, New York State Supreme Court Judge Shirley Werner Kornreich granted in part and denied in part Chartis’ motion to dismiss CT Investment Management Co. LLC’s suit, which alleges that Chartis did not honor a political...
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