Agreement Effected Valid Sale Of Litigious Rights, Louisiana Federal Judge Rules

Agreement Effected Valid Sale Of Litigious Rights, Louisiana Federal Judge Rules

NEW ORLEANS - A Louisiana federal judge on March 11 found that a sale of litigation agreement effected a valid sale of litigious rights between a hotel owner insured and its excess insurers, rejecting another insurer's contention that the excess insurers have no legal basis to pursue it for hotel damages caused by Hurricane Katrina (WH Holdings LLC, et al. v. Ace American Insurance Co., No.07-7110, E.D. La.; 2013 U.S. Dist. LEXIS 33181).

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