$2.1M In Vanished Booze Should Be Covered, Collector Says

Law360 (February 14, 2020, 9:28 PM EST) -- A venture formed to collect expensive whiskey and wine sued two insurance companies in New York federal court, alleging they wrongly denied coverage for more than $2 million worth of booze that went missing right before a business partner in the venture went "radio silent."

SCHJS LLC, formed by Joseph J. Sitt, claims that Great Northern Insurance Co. and Hiscox Insurance Co. are obligated to cover the losses the venture became aware of after an inventory check in 2018 revealed thousands of missing whiskey bottles.

"Instead, defendants have not provided a dime in coverage to SCHJS," the suit claims. "SCHJS fully cooperated with defendants'...

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