Chartis Can't Dodge Suit Over Losses On $103M Hotel Loan

Law360, Chicago (April 23, 2014, 1:16 PM EDT) -- A New York judge on Friday refused to dismiss a suit accusing Chartis Specialty Insurance Co. of failing to cover an investment firm for losses from a $103 million loan to a Mexican hotel venture that went belly-up, saying she suspects the Mexican borrowers are shielding themselves through a sham bankruptcy proceeding.

In a brief order, Judge Shirley Werner Kornreich denied the insurer’s renewed motion to dismiss CT Investment Management Co. LLC’s suit — which alleges that Chartis did not honor a political risk policy on...
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