Trend Export Funding Corp. v. Foreign Credit Insurance

SAND, District Judge.

Plaintiff, Trend Export Funding Corporation (“TEFCO”), an international business broker, alleges that defendant, Foreign Credit Insurance Association (“FCIA”), an insurer of such transactions, wrongfully failed to pay on two claims properly submitted by plaintiff totalling $7,060,597.61 plus interest. Defendant has moved pursuant to Rule 56, F.R.Civ.P., for summary judgment and for an order staying discovery. Defendant has also moved for leave to file an amended counterclaim. Plaintiff has cross-moved for summary judgment.1

The underlying facts giving rise to this lawsuit…