Insurer Sues Developer To Recoup Returned Deposits

Law360, London (September 6, 2019, 4:10 PM BST) -- Casualty & General Insurance Co. has sued an insolvent developer at a London court to recover deposit money returned to buyers in a residential development in England that was not completed.

The insurers' claim against Camco Estates Ltd., publicly posted on Thursday, is over plans to build homes at the site of a former elementary school that closed over a decade ago in the Wirral peninsula in northwest England. Camco owns the development site, according to the Aug. 6 claim at the High Court.

The litigation seeks more than £429,000 ($528,000), which represents the deposits paid out by CGIC under an...

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