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The dispute follows a complaint McGriff filed against Alliant and 3 former execs, accusing them of “breaching their valid and enforceable restrictive covenants.” -
The deal could see payouts to over 110,500 customers nationwide, with 75% of the settlement earmarked to 5,011 in Illinois.
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Piraeus Bank bought the action against Antares over the detention of a vessel in Venezuela in 2015.
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Together with its parent company, Allianz Global Investors has agreed to pay more than $5bn in restitution to victims and $1bn to US authorities.
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The appeals court for the eighth circuit overturned a prior ruling by a district court which had dismissed the broker’s claims that dated back to 2017.
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The Peruvian government is suing Spanish oil company Repsol over the January incident which affected 700,000 residents.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Litigation reform is expected to be a priority in the special session, while Florida Hurricane Catastrophe Fund expansion is also on the cards.
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Other defendants in the complaint include Endurance, Great American Insurance, Ironshore, Ace American Insurance and TIG Insurance.
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Earlier this year, a judge approved an $83mn settlement to compensate those who suffered economic losses because of the collapse.
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The Indian carrier had accused the Dallas-based agency of “rampant interference” in its relationship with cedents.
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The state’s chief federal judge has issued a standing order that echoes similar moves in New Jersey and California.
