High Court Won't Hear $22M AXA Art Investor Spat

Law360, New York (December 9, 2013, 1:21 PM EST) -- The U.S. Supreme Court on Monday declined to hear a group of art investors’ appeal of a New York state court’s finding that an AXA SA subsidiary doesn’t have to cover $21.6 million in losses from a notorious gallery swindle.

Renaissance Art Investors LLC had argued that AXA Art Insurance Corp. was improperly given a second chance to dodge coverage when it was allowed to proceed with a declaratory judgment suit in state court that was identical to a federal case it had already voluntarily dismissed....
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