Citgo Wins $49M Jury Verdict In Oil Cargo Loss Dispute

By Bonnie Eslinger · December 19, 2023, 5:34 PM EST

Lloyd's underwriters and other insurers must pay Citgo Petroleum Corp. over $49 million to cover the costs of oil cargo lost during political unrest in Venezuela, a New York federal jury...

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Case Information

Case Title

Citgo Petroleum Corporation v. Ascot Underwriting Limited, for and on behalf of Lloyd's Syndicate 1414 et al

Case Number

1:21-cv-00389

Court

New York Southern

Nature of Suit

Insurance

Date Filed

January 15, 2021