Bankrupt GenCanna Says Insurers Owe After $10M Fire Loss

Law360 (August 31, 2020, 7:54 PM EDT) -- The bankrupt hemp company formerly known as GenCanna Global has sued a pair of insurers claiming they have failed to respond to a claim stemming from a fire that cost the company $10 million and drove it into insolvency.

GenCanna, which changed its name to OGGUSA Inc. after it sold the majority of its assets earlier this year, filed an adversary proceeding on Friday against insurers Talisman Casualty Insurance Co. and W.I.S.E. Underwriting Agency Ltd. about 10 months after an explosion and fire burned millions of dollars worth of GenCanna's raw hemp and products.

The company claims the insurers have had...

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