10th Circ. Revives Nanodetex Legal Abuse Coverage Suit

Law360, New York (August 19, 2013, 7:37 PM EDT) -- The Tenth Circuit on Monday reversed Carolina Casualty Insurance Co.'s successful bid to avoid indemnifying Nanodetex Corp., an anti-terrorism technology company, in a suit accusing the company of trying to bully a rival into a merger through litigation, saying a malicious prosecution exclusion does not apply.

A unanimous appeals panel revived Carolina’s declaratory judgment suit after determining that Nanodetex and its two insured principals were successfully sued under a “malicious abuse of process” tort recently recognized by the New Mexico Supreme Court, which the panel said...
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