Cedent Seeks More Than $1.2 Million in Prejudgment Interest from Equitas

NEW YORK — Following a New York federal judge’s ruling ordering Equitas Insurance Ltd. to pay $7,234,125 plus interest toward a cedent's settlement of pollution claims brought against Dole Food Co., the parties have agreed to a method for calculating prejudgment interest.

In a July 30 filing before Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York, The Insurance Company of the State of Pennsylvania (ICSOP) explains that under English law, it should be awarded prejudgment interest from Nov. 2, 2016, and that such interest should be calculated at the prevailing U.S. prime …