Travelers Wins $7M Judgment In Repayment Dispute

Law360, New York (October 2, 2009, 6:05 PM EDT) -- An Alaska district judge has sided with insurer Travelers Casualty & Surety Company of America in a spat over an ambiguous repayment agreement, granting Travelers' summary judgment bid to recover more than $7 million from a construction company.

District Judge Timothy Burgess of the U.S. District Court for the District of Alaska ruled Wednesday that defendants Kulkwan Inc. and its wholly owned subsidiary, construction company South Coast Inc., owed Travelers the outstanding balance of roughly $6.1 million on an $8 million agreement, even though much of...
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