Overview
Law360 covered Steptoe's victory in the Delaware Supreme Court on behalf of client Great Lakes Dredge & Dock LLC. The justices affirmed a chancery court's ruling that North American Leasing Inc. and its affiliates must indemnify NASDI Holdings LLC and Great Lakes Dredge and Dock Corp. for losses incurred after the demolition company, NASDI LLC, terminated a subcontract for work on the Bayonne Bridge.
"Both the Supreme Court and the Court of Chancery got it right: The only reasonable and convincing interpretation of the parties' intentions is that the reasonable time within which notice of a claim must be given does not begin to run until the indemnitee becomes aware of the existence of the claim. We are pleased that the court reached that conclusion," said Steptoe partner Michael Dockterman.
The full article can be read at Law360 (subscription required).
