Does your firm currently have cash tied up in Escrow Accounts from previous deals? Would your firm like to utilize those cash assets?
Lex Specialty Group can provide an insurance solution in order to free up your firm’s cash assets tied up in escrow accounts. The Average Rate of Return for cash in escrow is currently getting a 50 bps return. Your cash assets in escrow are not being utilized to their full potential.
The insurance industry has notched another victory in its defense of its commercial insurance policies against claims for business interruption due to the coronavirus.
On July 1, in Gavrilides Management Co. LLC v. Michigan Insurance Co., 30th Circuit Judge Joyce Draganchuk granted the insurance company's dispositive motion denying a $650,000 business interruption claim brought by restaurant owner Nick Gavrilides in the Circuit Court of the County of Ingham, Michigan.
It has been no surprise that private equity sponsors and other would-be participants in the M&A markets have been hesitant to make new investments over the last few months, in many cases abandoning transactions that had been in process prior to the onset of the COVID-19 pandemic.
A trial court judge in Lansing, Michigan handed a victory to insurers in what may be the nation’s first final ruling on the question of whether a insurer is liable for financial damages caused by a coronavirus closure order.