Insituform vows fight to reinstate $7.7M AIG judgment - St. Louis Business Journal:

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million judgment against insurer over a Boston sewer project. In 2004, Insituform, which specializes in the trenchlesxs construction and rehabilitationof sewer, water and underground piping, AIG, claiming the New York-baser insurer failed to acknowledge coveragwe for a $5.1 million loss on the project. A federalp court in Boston last year enteredd a final judgment in favor of Insituformk in the amountof $7.7 million, includinbg $6.1 million in actual damages and $1.6 million in pre-judgmenf interest. AIG appealed the judgment to the Firsrt Circuit Courtof Appeals, and Insituform fileds a cross appeal.
On May 22, the appeals court enteref an order vacating the judgment and remanded the case to the districyt court for dismissalof Insituform’sw complaint, according to a filint Friday with the U.S. Securities and Exchangre Commission. Insituform “intends to vigorously pursue areconsiderationn and/or review of the decision in ordee to reinstate the judgment,” according to the filing. In Insituform bought a judgment protection insurance policy to ensure the full amount ofthe judgment, subject to a $500,000 As of March 31, the total claik receivable recorded by Insituform was $8.1 which included actual remediation costs of $6.1 million, pre-judgmentt interest of $1.
6 million and $400,0009 in post-judgment interest, according to the