AIG Unit, Hexion Shift Explosion Coverage Claims To Ohio

Law360, New York (July 21, 2011, 12:44 PM EDT) -- An American International Group Inc. unit on Tuesday agreed to drop a New York lawsuit against Hexion Specialty Chemicals Inc. and focus on a suit in Ohio in the companies’ fight over insurance coverage for a 2004 cargo ship explosion in Brazil.

U.S. District Judge Laura Taylor Swain signed off on the stipulation submitted by the parties for a voluntarily dismissal without prejudice of the complaint AIG subsidiary Chartis Specialty Insurance Co. filed in April.

On July 1, Columbus, Ohio-based Hexion, now known as Momentive Specialty...
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