The U.S. Supreme Court opted not to delay the execution of a judgment against Louisiana Citizens Property Insurance Corp. while the last-resort insurer prepares an application for the high court to hear the case.
In a brief answer, the Supreme Court stated, "The application for a stay pending the filing and disposition of a petition for a writ of certiorari in the above-entitled case has been presented to Justice Scalia, who on January 31, 2012, denied the application."
This denial prompted the board overseeing Citizens to offer $92.8 million to the individuals who are members of the class action lawsuit Geraldine Oubre et al. v. Louisiana Citizens Fair Plan. They offered an additional $10 million to other claimants who are not part of the lawsuit, but could be incorporated into it.
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