Shipping Giant Settles Insurance Suit Over 'Ruined Rice'

Law360, London (August 3, 2020, 5:30 PM BST) -- MSC Mediterranean Shipping Co. has resolved a suit brought by insurers AXA and AIG over alleged damage to a 574-ton delivery of rice, the latest of several settlements in England over goods said to have been ruined under the Swiss shipping giant's watch.

The claim, filed alongside a Singaporean importer-exporter, has been stayed after the two sides reached an out-of-court settlement, according to a Tomlin order dated Wednesday and filed at the High Court in London.   

Judge Mark Pelling signed off the order giving the two sides permission to apply to the courts without launching fresh legal action if they...

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