Lloyd's and Kanye West make settlement in $10 million lawsuit

Entertainer Kanye West poses for a portrait while promoting his new collaborative book named

Kanye and his touring company aren't getting paid because Lloyd's of London believes Kanye's breakdown, which ended the tour early, was fueled by prescription drugs and illegal drugs and therefore was his own fault. His company, Very Good Touring, sued for $10 million.

Back in August, it was first reported that Kanye West's tour company, Very Good Touring, was suing the insurance company Lloyd's Of London for almost $10 million dollars for money they never received back from some of his cancelled shows past year. West's attorney did not return a request for comment.

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We've learned Lloyd's folded under massive pressure by Kanye's lawyers and agreed to pay most of what Kanye was due under the policy. The two parties filed a joint stipulation to have West's case dismissed in California federal court. In November, he also checked into a psychiatric center in Los Angeles. He had been hospitalized in November 2016 after a series of concerts he gave where he went on weird rants about Donald Trump and his friend Jay-Z.

In West's August lawsuit, he said that he had submitted all required documentation and accused the insurance company of leaking his medical problems to the press. Lloyd's Of London blamed West's cancellation on the use of drugs, alcohol, and other influences. West and his group Very Good Touring had asked for $10 million and a jury trial. In his original lawsuit Kanye's lawyers stated Lloyd's executives, "suggested that they may deny coverage of the claim on the unsupportable contention that use of marijuana by Kanye caused the medical condition".

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