LA County Owes Earthquake Insurers $6M, Court Affirms

Law360, New York (March 31, 2011, 2:02 PM EDT) -- A California appeals court on Wednesday upheld an order requiring Los Angeles County to pay $5.9 million to cover its insurers' litigation costs in a sprawling, 14-year-old lawsuit over damage from a 1994 earthquake.

The Court of Appeals of the State of California, Fourth Appellate District, described the case in grandiose terms: it likened it to Napoleon's disastrous invasion of Russia and the Thirty Years' War, one of the most destructive conflicts in medieval Europe.

“This is a large case,” the appeals court said, noting that...
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.