Insurance Dispute Over $1.6M Rice Theft Settled Out Of Court

Law360, London (June 1, 2020, 5:47 PM BST) -- A Liberian agricultural commodities company has settled its $1.6 million insurance dispute against a Swiss grain supplier over who should cover losses from the theft of thousands of tons of rice.

The claim brought by United Commodities Inc. against Ameropa AG and four insurers has been stayed after the two sides reached an out-of-court settlement, according to a Tomlin order dated May 21 and filed at the High Court.

Judge David Waksman signed off on the order and said the proceedings will be halted unless either side needs the court's help in enforcing or carrying out the terms of the agreement,...

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