Imperial Sugar Settles Plant Blast Claims For $345M

Law360, New York (January 5, 2010, 2:21 PM EST) -- Imperial Sugar Co. has settled property and business interruption insurance claims stemming from a deadly 2008 explosion at a Georgia refinery for a total of $345 million, just shy of the $350 million limit under the policy.

The Sugar Land, Texas-based maker of the Imperial and Dixie Crystals brands of sugar products announced the settlement in a filing with the U.S. Securities and Exchange Commission Dec. 28.

The settlement was negotiated privately between the sugar company and its insurer without the need for litigation, Imperial Chief...
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