$23M Suit Over Energy Asset Sales Not Covered: 8th Circ.

Law360 (December 6, 2018, 8:55 PM EST) -- The Eighth Circuit on Thursday affirmed the dismissal of an oil services company's case against an insurer over underlying $23 million unfair-competition claims, saying a lower court was right that coverage was not available.

A three-judge panel ruled that Twin City Fire Insurance Co. did not have to defend Eagle Well Services Inc. or insider Robert Mau when they were sued for allegedly helping out a competitor of Sun Well Services right after they had sold Sun Well $48 million worth of Eagle Well assets. After Sun Well sued them for $23 million, Mau and Eagle Well went to Twin City...

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