A state appeals court on Thursday tossed out the bulk of major insurance lawsuit lodged by 35 related Madison Square Garden companies against four major insurers that allegedly didn’t pay out for COVID-19-driven closures.
The lawsuit, filed in March 2021 in Manhattan Supreme Court, alleges that “the MSG Insureds turned to the Insurers for the insurance the Insurers promised to provide” after the Madison Square Garden-linked companies paid “millions of dollars in premiums,” but that “instead of honoring their obligations, the Insurers have paid nothing for the MSG Insureds’ losses, thereby depriving the MSG Insureds of the coverage to which they are entitled.”
