Insurance Co. Denies Liability For Repairs To £5M Penthouse

Law360, London (December 2, 2019, 1:55 PM GMT) -- An insurer has denied that it owes the owners of a £5 million ($6.5 million) penthouse damages caused by allegedly faulty construction, telling a London court that they bought the flat at a discount and therefore it does not owe them a dime.

Amtrust Europe Ltd. told the High Court in a Nov. 28 defense filing that Raymond and Daphna Sehayek bought the London apartment knowing it had unresolved problems, which were reflected in the final price they paid.

The London-based insurer said it was under no obligation to indemnify the Sehayeks after they allegedly paid out from their own pockets to tackle flaws...

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