AIG Units Drop Drywall Coverage Suit Against Supplier

Law360, New York (July 13, 2010, 5:14 PM EDT) -- Three American International Group Inc. affiliates have agreed to dismiss their suit against Banner Supply Co. seeking a declaration that the insurers owed no coverage for some 165 underlying cases claiming the building materials company provided customers with defective drywall from China.

Few details about the agreement, approved Monday by Judge James Moody Jr. in the U.S. District Court for the Middle District of Florida, were available except that the sides would bear their own attorneys' fees and costs.

Requests for comment from AIG, the parent...
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