New Orleans Assets, L.L.C. v. Woodward

BENAVIDES, Circuit Judge:

New Orleans Assets, L.L.C. (“NOA”), sued the Louisiana Insurance Guaranty Association (“LIGA”), the successor to NOA’s original property insurer, for benefits due under a property insurance policy. The district court granted summary judgment for LIGA. We reverse and remand.

I

NOA owns a building that houses the regional'headquarters for the Federal Bureau of Investigation! After the building was completed, NOA learned that extensive growth of mildew and mold on the exterior walls would necessitate nine million dollars in repairs. NOA alleged that the mold and mildew…