Litigation

Several Florida-based building-supply companies, most prominently Banner Supply Co., have filed a lawsuit against a Chinese drywall manufacturer for making false claims about the safety of the product.

Zurich American Insurance Co. says it is not obligated to indemnify or defend Sony Corp. against lawsuits and investigations related to the hacking of Sony’s PlayStation Network.

Zurich American Insurance Co. says it is not obligated to indemnify or defend Sony Corp. against lawsuits and investigations related to the hacking of Sony’s PlayStation Network.

The Texas Department of Insurance ended a claims dispute with the state’s residual insurers, agreeing to settle claims with interest payments for more than 700 customers.

The Texas Department of Insurance ended a claims dispute with the state’s residual insurers, agreeing to settle claims with interest payments for more than 700 customers.

Procedures to unwind troubled insurance companies can be complicated by unforeseen tax issues, blindsiding stakeholders—regulators, creditors, owners of troubled companies, and even healthy ones included in consolidated returns—at a time when none of these parties is focusing on the Internal Revenue Service.