BCR Safeguard Holding, LLC v. Morgan Stanley Real Estate Advisor, Inc.
Court of Appeals for the Fifth Circuit
1Opinion of the Court
KING, Circuit Judge: *
Appellants, various entities that previously owned a stake in a self-storage company, Safeguard, LLC, brought this suit alleging RICO and related state law claims against: Appellee PPF Safeguard, LLC, which currently wholly owns Safeguard; Appellee Morgan Stanley Real Estate Ad-visor, Inc., which owns and controls PPF; and Appellees certain underwriters at Lloyd’s of London, which provided insurance coverage for Safeguard.
After suffering millions of dollars in damages due to Hurricane Katrina, Safeguard delegated to Morgan Stanley the role of negotiating insurance claims…
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