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Must title company indemnify in lien row over failed construction project?
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Court Report
Monday, March 16, 2015
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After a construction project in Missouri was aborted, the developer filed for bankruptcy where the contractors’ liens were litigated in an adversary proceeding. Having received a fraction of what it put into the project, the lender sought indemnity from its title insurer. When the title insurer denied coverage, the lender sued. The case eventually went before the 7th U.S. Circuit Court of Appeals, which determined whether Exclusion 3(a) excluded coverage in this case, as the insurer argued. Read on for more details.
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