A state appeals court docket on Thursday tossed out the majority of a serious insurance coverage lawsuit lodged by 35 associated Madison Sq. Backyard corporations towards 4 main insurers that allegedly didn’t pay out for COVID-19-driven closures.
The lawsuit, filed in March 2021 in Manhattan Supreme Courtroom, alleges that “the MSG Insureds turned to the Insurers for the insurance coverage the Insurers promised to offer” after the Madison Sq. Backyard-linked corporations paid “tens of millions of {dollars} in premiums,” however that “as an alternative of honoring their obligations, the Insurers have paid nothing for the MSG Insureds’ losses, thereby depriving the MSG Insureds of the protection to which they’re entitled.”
