Collapsed Insurer's €10M Fight Against Greek Unit Paused

Law360, London (November 18, 2019, 2:36 PM GMT) -- Legal proceedings brought by a defunct Gibraltar-based insurer against its Greek brokerage unit over €10 million ($11 million) it allegedly owes in unpaid premiums has been put on ice to allow the two companies to attempt to settle outside court.

Master Francesca Kaye ordered that proceedings brought by Enterprise Insurance PLC against Enterprise Hellas Insurance and Reinsurance Brokers SA, which operates in Athens, should be stayed until April 16. The four-month delay will allow the companies to take “serious steps” to settle their dispute using mediation, according to Thursday's consent order.

Enterprise Hellas must file its defense to the insurer’s suit...

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