Parties Nearing Settlement in Sex Abuse Reinsurance Coverage Action

HONOLULU — At the parties’ request, a Hawaii federal judge has stayed all deadlines in an action involving reinsurance coverage for sexual abuse claims pending the finalization of a possible settlement.

In their April 19 joint motion for a stay, the parties told Judge J. Michael Seabright of the U.S. District Court for the District of Hawaii that they “have reached agreement on nearly all material terms of settlement” and “anticipate reaching agreement on remaining terms and drafting settlement documents quickly.”

The parties added that they “anticipate seeking a joint dismissal with prejudice upon completion of a settlement agreement.” …