Golden Nugget Owners Pursuing Pandemic Business Losses

LAKE CHARLES, LOUISIANA (KPLC) – Businesses have lost millions of dollars because they had to close or downsize and reopen during the pandemic. Lawyers say Louisiana law allows companies to recover losses from insurers, but that depends on the type of insurance.

Billionaire Tilman Fertitta owns the Golden Nugget, Landry’s restaurant, and other businesses across the country. Depending on the courts here, the outcome of the lawsuit may be in the national interest.

Fertitta’s attorneys say it will take a team of accountants to determine how much Golden Nugget, Landry’s and his other businesses have lost during government-mandated closures or restrictions.

Also, unlike other states, the two judges here ruled that businesses here should be able to recover losses from insurance. The judges who signed the summary judgment in favor of Fertitta’s estate were Justices Clayton Davis and Justice Derrick Key.

Attorney Joey Pusson is part of Fertitta’s team.

“So many courts across the country won’t go as well as ours, but the laws in those states are different, so the Louisiana law is the kind that we can restore.” It’s one of the reasons insurance companies are fighting so hard to get it out of here,” said Pousson.

Insurers are expected to appeal the summary judgment that all-risk insurance should pay for business losses from the pandemic.

“An all-risk policy essentially means that when the policy was created, it said, ‘Cover all risks of loss, damage, or destruction unless otherwise excluded.’ We do,” said Pousson.

A win for Fertitta could impact other states’ laws and insurance policies.

“This is important because hundreds of cases have been filed all over the country, and the results in other parts of the country are different from what we have here. I was.

He said the insurance policy allowed the plaintiff to file in a jurisdiction of competent jurisdiction and barred the plaintiff from trying to transfer the case, which the state Supreme Court confirmed. .

Insurers are expected to appeal the question of whether they have to cover losses from the pandemic. His one in the suit will be put on trial on his December 12th.

The Fertitta business of suits is:

• Landry’s, LLC
• Golden Nugget Lake Charles, LLC
• Mississippi Riverboat Company
• Golden Nugget Atlantic City, LLC
• GNL V, LLC;
• GNL, LLC
• LANDRY’S SEAFOOD HOUSE NEW ORLEANS, INC.
• LANDRY’S SEAFOOD HOUSE-JAX, INC.
• Golden Nugget, LLC
• Fertitta Entertainment Co., Ltd.
• Fertitta Hospitality, LLC
• 1600 WEST LOOP SOUTH, LLC.

The insurance companies named as defendants in the lawsuit are:

• AIG Lexington
• great american insurance company
• Axis Surplus Insurance Company
• Berkshire Hathaway Special Insurance
• National fire and marine insurance company
• CHUBB (Ace American)
• PICC PROPERTY AND CASUALTY COMPANY, LTD.
• arch specialty insurance company
• Interstate Fire and Liability Company
• Canopius Underwriting Agency
• Everest Compensation Insurance Company
• HCC International Insurance Company, PLLC
• Certain Underwriters of LLOYD’S LONDON SUBSCRIBE TO FOUR POLICY NUMBERS
• One Beacon Insurance Group
• LANDMARK AMERICAN INSURANCE COMPANY
• STARR SURPLUS LINES INSURANCE COMPANY.

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