9 March 2022. Quadra Commodities S.A. v. XL Insurance & Co: the English High Court ordered insurers to indemnify a commodity trader for the misappropriation of commodities following “fraud” and bankruptcy.

This article is reproduced by kind permission of Mr Kyri Evagora of Reed Smith.
In the case of Quadra Commodities S.A. v. XL Insurance & Co [2022] EWHC 431 (Comm), the Court was asked to consider whether the Claimant was entitled to an indemnity under its marine cargo policy in circumstances where the goods it had purchased went missing from the Ukrainian warehouses in which they were supposed to have been stored prior to delivery at ports and then export.

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