The U.S. Court of Appeals for the Fifth Circuit has upheld a $141.7 million arbitration award in favor of the Kemper Corp. subsidiary, Kemper Corporate Services, against Computer Sciences Corp.
A decision of the arbitrator, issued in November 2017, found that CSC had breached a contract for the delivery of policy administration and billing software, and awarded Kemper direct damages, prejudgment interest, and costs and expenses associated with the arbitration.
Subsequently, in September 2018, a federal district court in Texas confirmed the award and entered judgment in the amount of $141.7 million against CSC and its parent, DXC Technology Co.
CSC and DXC appealed the district court’s ruling in late 2018, and, according to Kemper, in the meantime paid Kemper a total of $55.8 million in partial satisfaction of the final judgment. The unpaid balance of the judgment, including post-judgment interest, was approximately $89 million at Dec. 31, 2019, Kemper reported.
Sources: Kemper
*This story ran previously in our sister publication Insurance Journal.