Vantage Commodities to Appeal D.C. Federal Judge’s Ruling in Favor of Reinsurers
April 27, 2021
WASHINGTON, D.C. — Vantage Commodities Financial Services Inc. is appealing a District of Columbia federal judge’s ruling in favor of a group of reinsurers accused of breaching an implied contract by refusing to pay a $26 million arbitration award issued in Vantage’s favor.
According to an April 14 notice, Vantage will appeal the ruling, issued by Judge Trevor N. McFadden of the U.S. District Court for the District of Columbia, to the District of Columbia Court of Appeals.
Assured Risk Transfer PCC LLC (ART) sold Vantage a credit insurance policy covering Vantage’s losses up to $22 million after Vantage extended …