Gotham Insurance Off Hook For Developer's $21M Judgment

Law360, New York (October 11, 2013, 3:08 PM EDT) -- A Florida judge has allowed Gotham Insurance Co. to walk away from a $21 million judgment a condominium project developer won against a Gotham-insured title insurance company, saying a now-imprisoned attorney at the insured failed to alert Gotham to the claims it faced.

The case concerns developer Lake Buena Vista Vacation Resort LC's efforts to recoup losses from a condominium project that allegedly collapsed after an attorney at its partner on the project, a title insurance company called Coastal Title Services Inc., misappropriated the escrowed deposits...
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