New trial date set in dispute involving Capital One Tower
Published 6:25 pm Monday, October 3, 2022
A new date has been scheduled for the jury trial involving California-based Hertz Investment Group and its insurance company Zurich American after Zurich requested and was granted a continuance.
Hertz is the owner of the building often referred to as the Capital One Tower, even though that bank closed its offices there in June 2017.
The original trial date was set for Oct. 11. The new date is set for January 9, 2023.
Email newsletter signup
Work that began this summer will not be interrupted or put on hold, according to a spokesperson for the company. Hertz received $57 million from its insurance company after the building was damaged by 2020 hurricanes.
That figure reflects the building’s pre-storm value, according to a recent report from The Advocate.
At first, Hertz estimated that repairs would cost $150 million. Now Hertz said it will need $165 as market conditions have changed.
At the June 15 Lake Charles City Council meeting this year, Martha Curtis, lead counsel for Hertz, said the company filed suit against Zurich/American Guarantee and Liability Insurance December 23, 2020. On May 20, 2022, Judge Robert Wyatt, 14th Judicial Court, ruled that Hertz was entitled to a jury trial and the date was set.