Excess Insurers Liable To $50M In Katrina Barge Crash

Law360, New York (February 20, 2009, 12:00 AM EST) -- Clarifying coverage for massive litigation costs related to a cement barge that crashed into a New Orleans levee during Hurricane Katrina, a federal judge has ruled that excess insurers of construction materials company Lafarge North America Inc. must pay potentially tens of millions of dollars in legal costs.

Judge Charles S. Haight Jr. issued an order and judgment Thursday in the U.S. District Court for the Southern District of New York in the complex dispute among Lafarge, primary and excess insurer New York Marine and General...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.