Kanye West Settles $10 Million Lawsuit Against Lloyd’s of London Over Canceled Saint Pablo Tour
Yesterday, the rapper settled a suit with insurance company, Lloyd's of London, who refused to pay for losses that incurred from his cancelled gigs after he suffered a mental breakdown back in 2016.
The company ended up paying most of the losses that Kanye incurred due to his cancelled shows, after a long bout with Kanye's lawyers.Kanye's touring company -- Very Good Touring -- sued Lloy'ds for $10 million for refusing to pay. Lloyd's later countersued. The insurance company initially withheld payment, claiming that the cancelled shows were due to alcohol and drug abuse, which Kanye's lawyers said were baseless claims.
Per reports, Lloyd's ultimately decided that going to court was too risky, since they were faced with a big punitive damages award.
In other Yeezy business news, he recently refiled a trademark for his "Red October" sneakers—the shoe he released with Nike back in 2014, If the trademark is approved, it would allow Kanye to use his "Red October" mark for footwear, shirts, jerseys, bras, thongs, parkas, capes, body stockings, tankinis, baby bibs, swim caps, PJs, gloves and other items.
Every Kanye West Album Ranked