TN Metro Sues Commonwealth For $100M Hail Coverage

Law360, New York (September 1, 2011, 1:22 PM EDT) -- TN Metro Holdings LLC sued Commonwealth Insurance Co. in New York federal court Monday, seeking $100 million over allegations that it lost a group of properties to foreclosure because the insurer failed to cover repairs for extensive weather damage.

TN Metro alleges it paid $66.5 million for a group of apartments and small houses in Clarksville, Tenn., in 2007. During the sale transaction, the company says, a severe hail storm swept through the area, causing some $3.2 million in damages to the properties.

When TN Metro...
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