2nd Circuit Sets Argument In Reinsurers’ Post-Trial Appeal Of Oil Seizure Row

( December 11, 2024, 2:40 PM EST) -- NEW YORK — Oral argument has been calendared for Jan. 24 in a Second Circuit U.S. Court of Appeals case filed by reinsurers that were ordered to pay CITGO Petroleum Corp. more than $72.5 million in a suit stemming from the February 2020 seizure of crude oil at a Venezuelan port and involving a marine cargo reinsurance policy and what constitutes an “insurrection.”...

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