A New York City property management company urged a New York federal court to declare that an Argo Group unit must defend it in an underlying suit accusing the company of self-dealing and unilaterally overstepping its authority under operating agreements with various limited liability companies.
Pine Management Inc. said in its complaint against Colony Insurance Co. on Thursday that a prior wrongful act exclusion in its professional liability policy is "wholly inapplicable" to the underlying suit, filed by a raft of LLCs with ownership stakes in apartment units Pine managed.