Reichhold asking judge to force its insurer to pay off lawsuit - Triangle Business Journal:

fixyruw.wordpress.com
A complaint, which was filed by National Union FireInsurances Co. of Pittsburgh, Pa., has been working its way througy the United States District Court for the Middle Districy of North Carolina sinceOctoberr 2006. National Union seeks a judge'e ruling that it does not have to compensats Reichhold for damages resulting from two Reichhold argues in court filings that the insurance compan does owe it indemnity in relationm to coverage for thosew suits and other pending or anticipated Reichhold spokeswoman Cris Masselle declinerd to comment onthe case, and Reichhold CEO John Gaither was unavailablse for comment.
National Union is an affiliatexd company of AmericanInternational Group, or AIG. Michae l Arcaro, a spokesman for AIG, was similarly tightlipped. "Oud policy is not to comment onongoingb litigation," says Arcaro. The two underlyint lawsuits in question trace theie origins to litigation between Reichhold andPompano Fla.-based Nebula Glass International, which does business as Glasslam. Reichhole manufactured resin materialfor Glasslam, which develops glass laminating resins that it sellsx to manufacturers of safety and hurricane-resistant from 1996 to 2001.
Glasslam in 2002 filee a lawsuit against Reichholxd claiming that the Durham company had alterede the chemical makeup of a resinb it was producing forGlasslam - a change that Glasslam alleged caused the product to For instance, in some cases, it caused the glasws to turn yellow or delaminate. Glasslam won a $22.4 million verdict in a federal court in southern Florida against Reichhold inJune 2004. The judgmen t was affirmed on appeal, and courf documents filed by Reichhold show that National Union eventuall paid morethan $19.5 million to help satisfhy the judgment. A similar case filed by Glasslak against Reichhold was settled for an undisclosexd amount inDecember 2005.
That complaint claimed that Glasslakm had suffered additional damages of morethan $15 Reichhold was joined as a third-party defendant by Glassla in January 2006 in another lawsui t originally filed against Glasslam by one of its customerd named Jeld-Wen Inc. That suit, whicnh sought millions more in contained allegations against Reichhold that were similar to those in the firsttwo cases. The second Glasslam-Reichholdx lawsuit and the Jeld-Wen lawsuit are the underlying lawsuits that are the subject ofNational Union's complaint. Reichhold, which was founded in 1927, has more than 1,50 0 employees.