Randall & Quilter Hits Back At US Insurer's Share Sale Suit

Law360, London (September 10, 2020, 3:21 PM BST) -- Insurance specialist Randall & Quilter pushed back against an American insurer's breach of contract lawsuit in London over the acquisition of two claims books, arguing that it was unable to close the deal because the other insurer failed to settle its debts.

In a Sept. 2 defense filing with the High Court, counsel for Randall & Quilter II Holdings Ltd. and Randall & Quilter Underwriting Holdings Ltd. said that the insurance specialist could not finalize the 2017 purchase of two ProSight Global Inc. units.

After an audit, accountants discovered that the American insurer owed the units ProSight Specialty (TSMC) Ltd. and...

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