AIMCO Seeks Arbitration In $3M Dustup With Insurer

Law360, New York (November 6, 2009, 4:24 PM EST) -- Apartment Investment and Management Co. has asked a federal judge to compel arbitration and stay proceedings brought against it by St. Paul Fire & Marine Insurance Co., which is trying to avoid paying a $3.3 million indemnification bill AIMCO racked up in 21 lawsuits stemming from an alleged kickback and bribery scheme.

The Denver-based contractor filed a motion for relief in the U.S. District Court for the District of Colorado on Thursday, in response to a declaratory judgment action lodged by St. Paul on Oct. 1....
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