Insurers Say REIT's Atty Fees Must Be Resolved In Arbitration

Law360 (October 31, 2019, 10:57 PM EDT) -- Lloyd's of London underwriters and other insurers have asked a Florida federal court to deny a real estate investment trust's bid for attorney fees after closing out the REIT's lawsuit over a $20.6 million insurance claim, saying an arbitration panel should decide fees.

The underwriters and insurers said on Tuesday that The Cornfeld Group LLC wrongly asserts that the question of attorney fees must be decided by the court and not by the arbitration tribunal that has reviewed all coverage and loss issues between the parties in the REIT's suit seeking coverage for five properties damaged during Hurricane Irma.

They pointed...

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