Condo group wins $1.8M judgment

A condo developer in Pass Christian was awarded a $1.8 million judgment by a federal jury last week for wind damage which its insurance company refused to pay after Hurricane Katrina.
The Penthouse Condominiums group announced its rebuilding project in April 2008.
Penthouse Condo’s was one of the first such developments in the state, officials said.
The complex was destroyed by Hurricane Katrina and one person lost his life in the building. It was also rebuilt after Hurricane Camille.
The 84-unit development is located on the beach near Wal-Mart.
The project was expected to be completed within a year, but officials said the failure to recoup insurance proceeds from the storm caused delays.
Penthouse sued its insurance company, Lloyd’s of London, and the case was recently heard in federal court.
Federal Judge Sul Ozerden found there was no basis for Lloyd’s to deny the claim and also awarded developers legal fees, prejudgment interest and litigation fees, officials said.

BY: Dwayne Bremer

The Sea Coast Echo

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