New Orleans Retailer Wins Katrina Appeal
Aug 13, 2009 6:00 AM
NEW ORLEANS — A federal appeals court here has upheld a $20 million insurance award to Marc Robert 2nd, the owner of Robert's Fresh Markets here, after an insurance company failed to pay him the full amount for severe wind damage the stores sustained during Hurricane Katrina in 2005.
The court also ordered United Fire & Casualty Insurance Co. to pay Robert an additional sum of nearly $1 million in "bad faith" penalties. According to Philip Franco, Robert's attorney, the retailer plans to use the money to reopen one of his shuttered stores.
Insurers originally estimated Robert's losses at $19 million but paid him only $3 million before running out of money, Franco told SN. A jury last May said Robert was entitled to the additional $16 million, plus $4 million in penalties. The appeals court subsequently ruled he was entitled to additional penalties of close to $1 million.
According to Franco, the insurance company has already posted the money with the court.
Read More of Today's Headlines
Read More of Today's Headlines
Acceptable Use Policy blog comments powered by Disqus
Subscribe / Renew to Supermarket News
The most reliable source of industry news and insight...in print and online.
- Subscribe Today and gain instant access to the online SN Archive
- Renew
- Sign up for email newsletter
advertisement
Rick Brindle
View All Online Grocery Questions
Diane Tielbur
View All Occasion Based Marketing Questions
Viewpoints
David Orgel: Wider Turf War Between Supermarkets, Restaurants
Supermarkets are stepping up their restaurant-quality, ready-to-eat food offerings...
Connective Politics Pay Off in Interchange Reform
It's safe to say that Rich Niemann Sr. and Sen. Dick Durbin, D-Ill., don't see eye to eye on all issues...
advertisement
Most Viewed News
SN Editorial Videos
The Lempert Report
Marketing analysis, issues and trends from supermarket industry analyst Phil Lempert.
The Role of Technology at Save Mart Supermarkets
Aashish Chandra, senior director of IT Save Mart, talks about his company's approach to technology.
SN Sponsored Videos
Pan-Oston Mobile Innovation Centers Tour
The Supermarket Guru shows the front-end technology you can experience during the tour.




ShareThis









