Circuit City, Insurers Reach Deal On Hurricane Claims

Law360, New York (October 14, 2009, 12:46 PM EDT) -- Bankrupt electronics retailer Circuit City Stores Inc. has reached a settlement with insurers — including Lexington Insurance Co., Liberty Mutual Fire Insurance Co. and underwriters at Lloyd’s Insurance Co. — over claims for damage to stores and business interruption resulting from Hurricane Ike in 2008.

Circuit City filed a motion Tuesday in the U.S. Bankruptcy Court for the Eastern District of Virginia requesting approval for the settlement, in which the debtor would be paid roughly half of the $1.1 million in damage it determined to be...
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