LMI Must Reimburse Olin $40M For Cleanup: 2nd Circ.

Law360, New York (September 22, 2009, 2:49 PM EDT) -- In a legal battle dating back to 1984, a federal appeals court has upheld a lower court's ruling that London Market Insurance Co. must reimburse about $40 million that Olin Corp. spent cleaning up environmental contamination at two of the chemical producer's facilities near Niagara Falls, N.Y.

The U.S. Court of Appeals for the Second Circuit ruled Friday that the district court was correct in denying LMI's motion for reconsideration for judgment as a matter of law and in its interpretation of the deductibles of LMI's...
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