Italian Insurer Loses Bid For Early Win In Bond Settlement Suit

Law360, London (January 12, 2021, 4:48 PM GMT) -- A judge partially refused on Tuesday to grant summary judgment to an Italian insurance company in its €2 million ($2.4 million) lawsuit, which accuses the director of a Maltese financial services company implicated in a Vatican finance scandal of violating an earlier settlement.

Judge Daniel Toledano QC said at the High Court in London that the man, Gianluigi Torzi, has "a real prospect" of successfully defending himself against the action brought by Net Insurance SpA. The insurer alleges he failed to fulfill the terms of a 2019 settlement agreement, which triggered a €2 million guarantee payment.

Torzi has accused the insurer of...

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