First Dept. Tosses Out Most of MSG Companies’ COVID-19 Business Loss Suit Against Major Insurers | Law.com
https://www.law.com/2023/02/10/first-dept-tosses-out-most-of-msg-companies-covid-19-business-loss-suit-against-major-insurers/
Madison Square Garden Chairman & CEO James Dolan watches against the Milwaukee Bucks during the first half of an NBA basketball game Wednesday, Nov. 30, 2022, in New York. Photo: Adam Hunger/AP
The lawsuit, filed in March 2021, alleges that the 35 linked Madison Square Garden companies paid “millions of dollars in premiums,” but “instead of honoring their obligations, the Insurers have paid nothing for the MSG Insureds’ losses.”
February 10, 2023 at 02:06 PM
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A state appeals court on Thursday tossed out the bulk of a major insurance lawsuit lodged by 35 related Madison Square Garden companies against four major insurers that allegedly didn’t pay out for COVID-19-driven closures.
The lawsuit, filed in March 2021 in Manhattan Supreme Court, alleges that “the MSG Insureds turned to the Insurers for the insurance the Insurers promised to provide” after the Madison Square Garden-linked companies paid “millions of dollars in premiums,” but that “instead of honoring their obligations, the Insurers have paid nothing for the MSG Insureds’ losses, thereby depriving the MSG Insureds of the coverage to which they are entitled.”
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