Fight Over $1.5M Ruined Yacht Paused For Now

Law360 (August 28, 2019, 6:04 PM EDT) -- A Montana federal court has paused litigation against various insurers over coverage for a $1.5 million yacht that ran aground near Panama, saying its owners are challenging an arbitral award that nixed their claims.

Magistrate Judge Timothy J. Cavan’s Monday order granted a motion to stay by AGCS Marine Insurance Co., Liberty Mutual Insurance Co. and StarStone National Insurance Co., as well as a motion to stay by Pantaenius America Ltd., which specializes in obtaining and administering yacht insurance policies and acts as an agent for the insurance underwriters.

Judge Cavan stayed the case pending the outcome of a petition in...

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