Life Settlement Provider Coventry Found to Have Breached Origination Agreements with AIG
In the article, Jule discusses the rarity of winning a claim on summary judgment for a plaintiff, and the potential implications of the ruling for both parties in terms of settlement.
The article describes the recent ruling by U.S. District Court Judge Jed Rakoff in favor of AIG on its breach-of-contract claim against Coventry First LLC. The claim was decided Friday, July 10, 2015, and will go to trial for a determination of damages. AIG asserted that Coventry marked up insurance policies after AIG had committed to purchasing them, and is seeking about $1.6 billion in damages and disgorgement of fees from Coventry.