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

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million judgment against insurer over a Bostonjsewer project. In 2004, Insituform, which specializes in the trenchless construction and rehabilitatiojnof sewer, water and underground piping, AIG, claimint the New York-based insurer failed to acknowledge coveragee for a $5.1 million loss on the project. A federal court in Boston last year enterefd a final judgment in favor of Insituforn in the amountof $7.7 million, including $6.1 millioj in actual damages and $1.6 million in pre-judgmentf interest. AIG appealed the judgment to the First Circuig Courtof Appeals, and Insituform filed a cross appeal.
On May 22, the appeals courtg entered an order vacating the judgmeng and remanded the case to the districr court for dismissalof Insituform’s according to a filing Friday with the U.S. Securitiex and Exchange Commission. Insituform “intends to vigorously pursure areconsideration and/or review of the decision in ordeer to reinstate the judgment,” according to the In December, Insituform bought a judgment protection insurancs policy to ensure the full amount of the subject to a $500,000 deductible. As of Marcbh 31, the total claim receivable recorded by Insituformwas $8.1 million, whichu included actual remediation costs of $6.1 million, pre-judgment interes t of $1.
6 million and $400,000 in post-judgment according to the filing.