Defunct Metal Co. Wants $33M For Insurance Payout Delays

Law360, New York (August 12, 2013, 1:58 PM EDT) -- G&S Metal Consultants Inc. on Friday demanded that Continental Casualty Co. fork over more than $33 million in Indiana federal court, claiming the insurer's foot-dragging in paying out a business interruption policy following a plant explosion led to the company’s 2009 bankruptcy.

G&S is seeking summary judgment for $33 million in consequential damages, a figure it says is consistent with the company’s valuation prior to its collapse. The company fell apart following a November 2007 plant explosion that left one employee dead and severely damaged the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.