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Marex Adds To Coverage Claim In Nickel Warehousing Dispute

Law360, London (December 13, 2018, 1:32 AM GMT) -- Commodities broker Marex Financial Ltd. has broadened its claim against a group of insurers in a bid to secure indemnity for any costs it may be hit with if French investment bank Natixis is successful in an underlying $32 million suit over allegedly fraudulent nickel storage receipts.

Marex says that if the receipts turn out to be counterfeit it will suffer direct financial loss, so it is seeking a declaration from the High Court of England and Wales that it is entitled to be indemnified by the underwriters for any such loss.

The broker initially launched the Part 20 proceedings against...

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