7th Circ. Rules G&S Can't Sue Insurer For Affiliate's Claim

Law360, New York (September 20, 2012, 8:02 PM EDT) -- The Seventh Circuit on Thursday affirmed the dismissal of a suit against Continental Casualty Co., ruling that G&S Holding LLC lacked standing to sue the insurer over its refusal to fully cover losses from an explosion at an affiliate’s plant.

A three-judge appeals panel upheld an Indiana district court ruling that G&S and its co-plaintiffs could not sue Continental for its failure to fully indemnify G&S Metal Consultants Inc. — owner of the damaged plant and holder of the Continental policy — even though the plaintiffs...
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.