George v. Travelers Indemnity Company

Complaint by Harry George and Bahjat M. Yaldoo, individually and as corporate officers in behalf of True Value Supermarket, Inc., and True Value Supermarket, Inc., against Travelers Indemnity Company, American Home Assurance Company, All-star Insurance Corporation, and Jefferson Insurance Company of New York for damages based on the alleged failure of defendants to honor the terms of policies covering the value of the supermarket, its contents, and for business interruption after the supermarket was destroyed by fire. Judgment for defendants. Plaintiffs appeal. This appeal arises out of an action for damages based on the alleged failure of defendant insurance companies to honor the terms of policies covering plaintiffs for the value of a True Value Supermarket, for the contents therein, and for business interruption, after the supermarket burned down on October 31, 1971. At the time of the fire, plaintiff Harry George, the president and sole stockholder of True Value Supermarket, Inc., owed $15,000 to plaintiff Bahjat Yaldoo. Yaldoo was vice-president and director and also managed the store until September 1971. Plaintiffs appeal from a jury verdict of no cause of action as to all claims, which was returned on June 15, 1976, after a lengthy trial.