OneBeacon Off Hook For $7M Lead Paint Lobbying Tab

Law360, New York (May 1, 2012, 5:24 PM EDT) -- NL Industries Inc. can't make OneBeacon America Insurance Co. reimburse the manufacturer for $7 million it spent on a campaign to fend off potential lead-based paint liabilities in state legislatures and municipalities, a New York state judge ruled Tuesday.

Judge Barbara R. Kapnick ruled that the $7 million — used to convince state attorneys general not to sue and to fend off state legislation that could have put the company on the hook for lead-based paint litigation it had already managed to dismiss — wasn't covered...
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.