Case against Randall & Quilter subsidiary was “without merit”

A New York Federal court has dismissed outright claims by two US insurers in run-off, Seaton Insurance Company and Stonewall Insurance Company, against Cavell USA, Inc (a subsidiary of Randall & Quilter Investment Holding Plc), and its Chairman, Ken Randall.

Ken Randall, chairman and CEO of Randall & Quilter said: “I am delighted the Federal Court has thrown out this complaint which is completely without merit and in breach of a settlement agreement reached in early 2006.

“We have already commenced an action for breach of contract in the English court and expect to make a full recovery of the substantial costs we have incurred in relation to the New York allegations and related demands made by Seaton and Stonewall since 2005.”