Insurer Sues Financial Firm For €2M Over Broken Settlement

Law360, London (June 19, 2020, 8:56 PM BST) -- Italian insurer Net Insurance SpA has filedaa a €2 million ($2.24 million) lawsuit against the director of a Malta financial services firm, calling it the financial consequence of the businessman and his offshore company failing to fulfill the terms of a settlement agreement.

Details of the circumstances underlying the July 2019 settlement are not included in the High Court claim filed by Net Insurance Life and its subsidiary against defendant Gianluigi Torzi, the director and legal representative of Sunset Financials Ltd.

Net Insurance told the court that Sunset upheld some elements of the deal, but then failed to complete a significant...

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