Judge Refuses to Set Trial Date in $26 Million Reinsurance Case, Citing Pandemic

WASHINGTON, D.C. — Citing the “uncertainty given the ongoing COVID-19 pandemic,” a federal judge has denied Vantage Commodities Financial Services Inc.’s unopposed motion for a trial date in its action accusing reinsurers of wrongly refusing to pay a $26 million arbitration award issued in its favor.

In a Feb. 18 minute order, Judge Trevor N. McFadden of the U.S. District Court for the District of Columbia also cited the court’s need to prioritize criminal trials in accordance with the court’s standing order.

Assured Risk Transfer PCC LLC (ART) sold Vantage a credit insurance policy covering Vantage’s losses up to $22 …

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