La. Court Revives Self-Storage Company's Claim for Lost Business Opportunities

NEW ORLEANS - A Louisiana appellate court has ruled that a trial court erred in awarding summary judgment to insurers on a self-storage company's claim for $332.5 million in lost business opportunities as a result of Hurricane Katrina, saying issues of fact are still in dispute. Safeguard Storage Properties LLC, et al. v. Favret, et al., Nos. 2010-CA-0673 and 2010-CA-0855 (La. Ct. App., 4th Cir.).

Louisiana's Fourth Circuit Court of Appeals on March 31 reversed summary judgment for insurers sued by Safeguard Storage Properties, saying the trial court erred in ruling that Safeguard's claimed losses over the next 40 years …