Allianz Settles London Property Owner's Water Damage Suit

Law360, London (October 2, 2019, 4:29 PM BST) -- Insurer Allianz has inked a settlement agreement with the owner and developer of a £10 million ($12.3 million) office and apartment building in London, dubbed The Cube, over water damage to the structure, a judge at a London court has said.

Judge Stephen Phillips paused the High Court dispute between the insurer and Regal Wenlock Road Ltd. after they reached a confidential agreement in September, according to an order dated Oct. 1. The order, known as a stay, can subsequently be lifted.

The property, a 10-story development of 50 residential apartments above commercial units in the newly fashionable district of Hoxton, was damaged...

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