Renco Sues Fluor, Massey Over $358M In Liability Coverage

Law360, New York (January 31, 2012, 3:43 PM EST) -- Private equity giant The Renco Group Inc. sued Fluor Corp. and A.T. Massey Coal Co., now called Appalachia Holding Co., on Monday, seeking a ruling that it doesn't have to indemnify its former partners for a $358 million jury verdict in favor of 16 plaintiffs who were injured by toxic emissions from a Missouri lead smelter.

Fluor and Appalachia Holding, or Massey, are seeking indemnification under a 1994 stock purchase agreement in which Renco subsidiary DR Acquisition Corp. purchased a Fluor subsidiary, St. Joe Minerals Corp.,...
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