Ace Rips Reinsurer's Bid To Back Out Of Subsidiary Buy

Law360, New York (December 4, 2012, 6:51 PM EST) -- Ace Ltd. told a New York state judge Tuesday that reinsurer Randall & Quilter Investment Holdings PLC can't get out of deal to buy an Ace subsidiary by claiming it didn't know the true extent of the asbestos and environmental liabilities the subsidiary reinsured.

Ace's attorney Harry P. Cohen of Crowell & Moring LLP said during a hearing that Randall & Quilter had more than enough information to see that Ace subsidiary Ace American Reinsurance Co. had reinsured the liabilities of Horace Mann Insurance Co. and...
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