NJ High Court Lets Coregis Off Hook For Sewage Deal

Law360, New York (June 22, 2011, 9:47 PM EDT) -- The New Jersey Supreme Court on Tuesday affirmed that Coregis Insurance Co. did not have to reimburse a public sewage agency in northern New Jersey for damage stemming from a settlement in an underlying antitrust dispute with a private wastewater treatment company.

The Passaic Valley Sewerage Commission said its insurer was obligated to reimburse it for between $6 million and $17 million in estimated damage that it incurred as a result of a 2005 settlement with Spectraserv Inc., but Coregis refused, saying that the language of...
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.