Reinsurer Sphere Drake won a court judgment in a $120m (£75m) wrangle over the collapse of movie company Destination Films.
Destination went into liquidation owing $120m. This sparked claims on ins ...
Reinsurer Sphere Drake won a court judgment in a $120m (£75m) wrangle over the collapse of movie company Destination Films.
Destination went into liquidation owing $120m. This sparked claims on insurer New Hampshire, which in turn sued its reinsurers including Sphere Drake.
Mr Justice Langley ruled Sphere Drake, represented by Charles Russell solicitors, was not liable because Destination chief executive Steve Stabler, producer of movies such as hit film Dumb & Dumber, had been removed and the reinsurance contract had been breached as a result.
