AERT case to go to trial.
According to a report in the Arkansas Democrat Gazette, Judge Mark A. Lindsay of the Fourth Judicial Court in Arkansas ruled that the plastic decking maker will face its former insurer in court.
AERT is seeking a $2.4 million settlement as well as attorney and court fees and punitive damages from Lloyds, according to the report.
The insurance company originally sued AERT in January of 2005, seeking a declaratory judgment that it was not liable to reimburse AERT for certain costs of rebuilding the Junction plant because AERT allegedly did not rebuild the facility exactly as it was prior to the fire.
AERT countersued that same month, alleging that Lloyd's acted in bad faith by failing to honor its contract.
Lindsay ordered both sides to participate in a 45-day mediation, which did not lead to a resolution.
In his opinion, Judge Lindsay threw out $900,000 in building and structure loss claims, reducing the amount AERT could collect, according to the report in the Democrat Gazette.
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|Date:||Sep 1, 2006|
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