Insurers' Rescission Claim Survives In Heparin Suit

Law360, New York (August 9, 2011, 5:02 PM EDT) -- A Maryland federal judge on Tuesday kept alive a bid by two insurers to rescind policies issued to American Capital Ltd. over alleged misrepresentations the private equity company made regarding its subsidiaries, part of a coverage dispute over underlying heparin contamination litigation.

The Charter Oak Fire Insurance Co. and Travelers Property Casualty Corp. are suing American Capital in an attempt to avoid covering scores of suits alleging Changzhou SPL Co. Ltd. manufactured tainted heparin, a blood thinner. Changzhou SPL is a joint venture between a China-based...
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