Potash Corporation resolves dispute over insurance coverage for liabilities arising from Ward Transformer Superfund Site
Clients Potash Corporation of Saskatchewan, Inc.
Jones Day represented Potash Corporation of Saskatchewan, Inc. subsidiary PCS Phosphate Company, Inc. in its claims for insurance coverage for liabilities arising from the Ward Transformer Superfund Site in Raleigh, North Carolina. PCS faced the potential of significant liabilities after being identified as a potentially responsible party for the cleanup of the Superfund Site and sought coverage from its insurer, American Home, for the defense and indemnification of those liabilities. After American Home denied coverage, PCS filed suit in North Carolina, asserting claims for breach of contract, declaratory judgment, and bad faith. Shortly after successfully defeating American Home's motion for a protective order for the discovery of documents related to PCS's bad faith claim, the parties reached a confidential settlement agreement.
PCS Phosphate Co. v. American Home Assurance Co., 5:14-cv-99 (E.D.N.C.)