Investment Firm Sues Chartis Over $103M Hotel Loan Loss

Law360, New York (November 13, 2012, 8:18 PM EST) -- CT Investment Management Co. LLC on Tuesday hit Chartis Specialty Insurance Co. with a lawsuit alleging it failed to indemnify the investment firm for losses suffered when a Mexican court ruled bankrupt businesses in that country didn’t have to make payments on a $103 million loan to hotel operators.

CT brought the suit on behalf of U.S. Bank, the successor to Bear Stearns Commercial Mortgage Inc., which was a party to the original loan. Chartis allegedly denied coverage to CT after some businesses that took out...
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