Bankrupt Oil Co. Sues Chartis, Lloyd's Over Fire Coverage

Law360, New York (November 4, 2013, 1:42 PM EST) -- Irvine, Calif.-based Evergreen Oil Inc. on Friday accused Chartis Property Casualty Co., Lloyd's of London and others of forcing it into bankruptcy by undervaluing its claims and failing to pay for millions of dollars in damages incurred from a fire at one of its refineries.

Chartis, Lloyd's, National Union Fire Insurance Co. of Pittsburgh, Pa., and Swiss Re International SE mischaracterized damages and delayed payments, rendering Evergreen unable to pay contractors to rebuild the refinery and ultimately preventing it from obtaining a reasonable profit from the...
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