Bankruptcy of Storage Facility Created a Compensable LossPlaintiffs insurers sought a declaration that there is no coverage for the insurance claim made under the policy for the loss of soybeans. The Defendants moved for partial summary judgment on its first and second counterclaim. In Endurance American Insurance Company, Zurich American Insurance Company, and, Atain Insurance Company v. Stonex Commodity Solutions, LLC F/K/A FC Stone Merchant Services, LLC, 2024 NY Slip Op 30076(U), Index No. 653234/2022, Motion Seq. No. 004, NYSCEF Doc. No. 108, Supreme Court, New York County (January 8, 2024) the Supreme Court (trial court) resolved the dispute.BACKGROUNDZALMA OPINIONSince the evidence showed that there were enough soybeans to cover that deposited by the defendants when EGT was forced into bankruptcy the division of the assets by the court resulted in a loss to the defendants that was not excluded from the coverages provided by the Plaintiffs.(c) 2024 Barry Zalma & ClaimSchool, Inc.Please tell your friends and colleagues about this blog and the videos and let them subscribe to the blog and the videos.Subscribe to my substack at https://barryzalma.substack.com/publish/post/107007808Go to Newsbreak.com https://www.newsbreak.com/@c/1653419?s=01Go to the Insurance Claims Library – http://zalma.com/blog/insurance-claims-library.

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