La. High Court Clears Way For $105M In Katrina Payments

Law360, New York (April 10, 2012, 2:43 PM EDT) -- Louisiana's highest court on Monday reversed a state appeals court judgment that had temporarily blocked a class of Louisiana Citizens Property Insurance Co. policyholders from obtaining $105 million in late-adjusted Hurricane Katrina claims from the state-chartered insurer.

The ruling undoes a March 14 decision by the Louisiana Court of Appeals for the Fifth Circuit that had halted garnishment actions by the plaintiffs, policyholders Geraldine Oubre and Linda Gentry, while Citizens sought to challenge the judgment. The policyholders can now collect the judgment, which consists of $92.8...
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.