Insurers Settle With LSP Energy For $7M Over Turbine Failure

Law360, Wilmington (August 20, 2012, 7:09 PM EDT) -- A host of insurers agreed Monday to fork over $7 million to LSP Energy LP to settle a dispute over coverage for a mechanical failure that helped tip the power plant operator into bankruptcy.

Having already shelled out $17.8 million under an insurance policy, insurers led by Great Lakes Reinsurance (UK) PLC agreed to pay $7 million more for repairs and lost revenues resulting from a turbine failure at LSP’s plant in Batesville, Miss., according to a settlement motion filed in Delaware bankruptcy court.

The turbine...
To view the full article, register now.




Case Information

Case Title

LSP Energy Limited Partnership

Case Number




Nature of Suit

Date Filed

February 10, 2012

Law Firms


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.