Insurer Deflects Potential Countersuit Over Returned Deposits

Law360, London (December 2, 2019, 4:21 PM GMT) -- Casualty & General Insurance Co. has hit back at a property developer’s apparent intention to file a counterclaim over money mistakenly paid out over a failed residential project, arguing that the company is barred from doing so under the policy at the heart of the dispute.

Camco Estates Ltd., which is insolvent, cannot bring a counterclaim against Casualty & General because it signed an indemnity agreement that waived its right to sue, the insurer said in a reply filed with the High Court on Nov. 29. Casualty also stood by its claim that Camco has profited from the transfers and took aim...

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