LNY 5003, L.L.C. v. Zurich American Insurance Co.

Court: 5th Cir  10/11/2023  Fifth Circuit Finds Assignment of COVID-19 Claims Invalid and Holds Diversity Jurisdiction Established in Dismissing Insured's Claims

The Fifth Circuit Court of Appeals affirmed the district court's finding that diversity jurisdiction was established where non-diverse assignee of diverse insured's claims for COVID-19 losses under commercial insurance policies was invalid because assignment violated policies' anti-assignment clause and further held that insured restaurant group's claims should be dismissed where it failed to plausibly plead that the COVID-19 virus caused direct physical damage to property.

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motion to remandmotion to dismissremovalcommercial insurance policydirect physical lossanti-assignment clauseDiversityFRCP 12b6assignment of claimsCOVID-19

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