N.Y. Panel Affirms Ruling In Coverage Suit Arising From $141M Fraudulent Trading

Mealey's (April 26, 2023, 1:37 PM EDT) -- NEW YORK — A New York appeals court on April 25 affirmed a ruling in a coverage dispute over an insured’s $141 million loss arising from fraudulent commodity futures trading activity, finding that the lower court correctly decreased the loss attributable to the excess insurers by the $117,020,287 amount the insured received from the settling insurers....