Calif. Court Flips Alleghany Fee Reimbursement Award

Law360, New York (March 14, 2011, 8:09 PM EDT) -- A California appeals court on Friday overturned a ruling awarding Alleghany Properties LLC the full share of $1.5 million in funds that Sacramento had made available to reimburse developers for the construction of drainage facilities.

A three-judge panel of the Court of Appeal of the State of California, Third Appellate District, reversed the lower court's award of summary judgment to Alleghany, finding that there was insufficient evidence to support Alleghany's allegation that it was not required to share these interpleaded funds with fellow developer Beazer Home...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.