Assured Risk Asks D.C. Court to Stay Discovery Pending Dismissal Motion

WASHINGTON, D.C. — Assured Risk Transfer LLC has moved to stay discovery pending resolution of its motion to dismiss a lawsuit in which Vantage Commodities Financial Services Inc. is seeking payment of a $26 million judgment following a reinsurance arbitration ruling in its favor.

In a March 29 motion filed in the U.S. District Court for the District of Washington D.C., Assured says Vantage would not be prejudiced by a stay because it has already taken substantial discovery of Assured in the prior arbitration.

Vantage procured a policy from insurer Assured LLC and reinsurers Hannover Ruckverishcerung AG, Partner Reinsurance Europe …