June 22, 2016
A Texas federal judge gave a win to a Chartis unit on Tuesday in a suit over the insurance giant's denial of coverage for millions of dollars lost by a manufacturer unwittingly caught up in a major Ponzi scheme, saying the manufacturer had invested via loans and so didn't "own" its money for purposes of coverage.
September 23, 2015
After nearly three years of litigation, a Texas federal judge has ordered mediation between Cooper Industries and its insurer, a Chartis Inc. subsidiary, which it sued over an alleged breach of contract for denying coverage of a $17 million loss when the electrical manufacturer was caught in a $670 million Ponzi scheme.
May 25, 2012
Chartis Inc. was hit with a suit in Texas federal court Thursday claiming that the insurance giant wrongfully denied coverage of $17 million lost by an electrical manufacturer unwittingly caught up in a $670 million Ponzi scheme.