Bankruptcy Exclusion Bars $103M Hotel Claim, Chartis Says

Law360, New York (April 16, 2013, 5:51 PM EDT) -- A Chartis Specialty Insurance Co. attorney told a New York state judge Tuesday that it didn't have to indemnify an investment firm that lost out on payments on a $103 million loan to Mexican hotel operators because of a bankruptcy exclusion in the policy.

CT Investment Management Co. LLC claims that Chartis, now known again as American International Group Inc., hasn't honored a political risk policy for the loan, which CT has been unable to collect on after some businesses that took out the loan went...
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