PLAINTIFFS WITHDRAW APPEAL IN KATRINA-RELATED REINSURANCE DISPUTE
The parties in Association Cas. Ins. Co. v. Allstate Ins. Co., have stipulated to dismissal of the plaintiffs’ appeal in a Katrina-related reinsurance dispute. The plaintiffs had appealed the trial court’s order granting the defendants’ motion for directed verdict after eleven days of testimony was heard before a jury. The Plaintiffs, members of a condominium association, brought claims against the condominium board for failing to purchase adequate reinsurance to cover damage to areas of common property. Plaintiffs sustained losses after Hurricane Katrina. The defendants sought a directed verdict, arguing that the plaintiffs did not have standing to sue the board in their individual capacities, since their claims were based on damage to areas of common property in which plaintiffs only had a partial interest. The Court granted the motion. Aegis Security Ins. Co. v. Allstate Ins. Co., No. 2:09-cv-24 (USDC S.D. Miss. March 18, 2009). Plaintiffs appealed shortly thereafter, and the parties have now stipulated to a withdrawal of the appeal. Association Cas. Ins. Co. v. Allstate Ins. Co., No. 09-60299 (5th. Cir., June 5, 2009).
This post written by John Pitblado.
