Judge Rules In Insured’s Favor On 2 Open Issues In Suit Arising From Fraud Scheme

(November 16, 2016, 11:18 AM EST) -- NEW YORK — Ruling on two remaining issues in a dispute over coverage for an insured’s multimillion-dollar loss of marine gas oil (MGO), a New York federal judge on Nov. 11 held that the insured is entitled to damages measured by a “re-sale” invoice’s value of $17,910,833.28 and to prejudgment interest at the New York statutory rate of 9 percent, starting from March 2, 2014 (AGCS Marine Insurance Co. v. World Fuel Services, Inc., et al., No. 14-5902, S.D. N.Y.; 2016 U.S. Dist. LEXIS 158022)....

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