28:1332 Diversity-Declaratory Judgement
A New York federal judge on Thursday found a subcontractor’s involvement in unloading a truck at a Goldman Sachs construction site where an accident resulted in $22 million in settlements was sufficient for the accident to fall under the truck owner’s insurance policy.
A federal judge in New York on Friday sided with excess insurers for Goldman Sachs and hit an AIG unit with annual prejudgment interest rates of about 9 percent and another $267,000 in defense costs in a $1 million judgment for a trucker's construction injury settlement.
A $1 million dispute over coverage for two men’s injuries suffered at a Goldman Sachs construction site has devolved into a fight over footnotes, with the Insurance Company of the State of Pennsylvania denying in New York federal court Tuesday that it overloaded its notes to sidestep page limits.
An AIG unit has said that excess insurers for Goldman Sachs have taken the “disturbing” stance that while New Jersey law applied to hold AIG liable for covering $1 million of a trucker's construction injury settlement, a federal court should apply New York law to calculate interest on the sum.
An AIG unit has told a New York federal judge it has no problem exhausting its policy limit by paying $1 million toward one settlement for construction injuries at Goldman Sachs’ headquarters involving a trucker, but it accused Goldman’s excess insurers of getting greedy by asking for defense costs of a second settlement.
Excess insurers for Goldman Sachs compared an AIG unit to the grumpy narrator of Dr. Seuss' "Green Eggs and Ham" on Tuesday, telling a New York federal court in rhyming verse that the obdurate insurer has refused again and again to pay the $1 million in coverage it owes for construction injuries involving a trucker at Goldman's headquarters.
Excess insurers for Goldman Sachs argued an AIG unit owes them defense costs for suits brought by construction workers injured at the investment bank's headquarters, telling a New York federal court on Thursday it had only paid for the defense because the AIG subsidiary had failed to live up to its obligations.
A New York federal judge on Friday said Continental Casualty Co. and a group of underwriters, including Certain Underwriters at Lloyd’s of London, must split the remainder of a $20 million settlement over a 2007 construction accident at the Goldman Sachs Group Inc.'s headquarters after the primary insurer pays out $1 million.
A federal judge on Friday ruled that Continental Casualty Co. can appeal its partial loss in a coverage battle over at least $20 million in liability for a construction accident at Goldman Sachs Group Inc. headquarters, saying the law is open to interpretation.
A New York federal judge on Tuesday once again blocked a bid by Continental Casualty Co. to escape a dispute over coverage related to a $20 million construction accident at Goldman Sachs Group Inc.’s world headquarters, saying it put forth no new arguments.