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Insurers Get Extra Month To Defend ABN Amro Cargo Suit

Law360, London (January 9, 2019, 5:27 PM GMT) -- A group of 14 insurers has been granted an additional month by a London court to defend allegations that they wrongly refused to pay compensation to a commodity finance business owned by Dutch lender ABN Amro Bank after its clients defaulted on approximately $63.6 million of transactions.

An order signed at the High Court by Judge Clare Moulder on Jan. 3 has extended the time for the companies, including Royal & Sun Alliance PLC and several Lloyd’s of London insurers, to defend themselves against the suit by 28 days.

ABN Amro sued RSA, reinsurance giant Swiss Re Ltd., Italian insurer Assicurazioni...

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