$220M Cobalt Deal Not A Loss Under Policy, Insurer Says
By Catherine Marfin ( October 24, 2023, 6:32 PM EDT) -- An insurance company for now-bankrupt Cobalt International Energy Inc. told the Texas Supreme Court on Tuesday that a $220 million settlement the energy company reached with a group of investors after the approval of a bankruptcy plan can't be recovered because it doesn't qualify as a loss under the Cobalt's policy....
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