Insurer Can't Recoup $2.2M In US Bonds, CIT Rules

Law360, New York (August 11, 2017, 4:33 PM EDT) -- The U.S. Court of International Trade denied a bid by Hartford Fire Insurance Co. hoping to recoup $2.2 million paid on bonds to U.S. Customs and Border Protection that the insurer alleges are void, finding that the bonds are valid and enforceable.

In a 55-page opinion issued Thursday, the court rejected Hartford's argument that the bonds it issued to various importers to cover imposed duties are void on the ground they fail to comply with certain regulations and that even if they are valid under the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.