Merrick Bank Corporation v. Chartis Specialty Insurance Company
Case Number:
1:12-cv-07315
Court:
Nature of Suit:
Judge:
Firms
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November 28, 2016
Chartis Concocted Reason To Nix $18M Payout, Merrick Says
Merrick Bank Corp. told a New York federal jury Monday that Chartis Specialty Insurance Co. "concocted" an after-the-fact equivalency between an escrow account and a merchant reserve account to avoid paying $18 million in uncollected chargebacks when charter airline Direct Air went bankrupt in 2012.
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March 23, 2015
Chartis May Be On Hook For Part Of $26M Merrick Loss
A New York federal judge on Friday ruled that Chartis Specialty Insurance Co. may be liable for part of a $26 million loss sustained by Merrick Bank Corp. when a charter airline company went bankrupt in 2012, but said a trial was necessary to ascertain exactly how much, if any.
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October 02, 2012
Chartis Sued Over $25M In Airline Bankruptcy Losses
Merrick Bank Corp. sued Chartis Specialty Insurance Co. in New York federal court Friday, claiming the insurer owes up to $25 million under an insurance policy for losses it sustained when Myrtle Beach Direct Air went bankrupt in March.