Michael Landry and his partners in a joint venture with a Danish firm are suing Belgium-based insurer QBE Europe SA/NV for more than $18 million, claiming the insurer failed to resolve their dispute in good faith. The lawsuit, filed Monday in Massachusetts federal court, centers on QBE’s handling of a breach of contract case involving the construction of vessels for the wind farm industry.
Michael Landry $18M Trial : The Dispute
The plaintiffs—Michael Landry, Treadwell Franklin Infrastructure Capital (TFIC), and Patriot Offshore Marine Services—allege that QBE mishandled their insurance claims related to a failed joint venture with World Marine Offshore (WMO), a Danish company. The venture, launched in 2020, aimed to build support vessels for wind farms, with deals in place to construct vessels for General Electric and Vineyard Wind. However, WMO backed out of the agreement in 2022, leading to significant financial losses for Landry and his partners.
Allegations Against QBE Europe
The lawsuit claims that QBE Europe, instead of offering a reasonable settlement, wasted limited policy funds on a motion to dismiss the breach of contract case, a move the plaintiffs argue was both pointless and unsuccessful. Furthermore, the plaintiffs accuse QBE of unfairly leveraging its settlement stance by arguing that a U.S. judgment might be difficult to enforce in Denmark, a tactic the plaintiffs deem deceptive and illegal.
