3rd Circ. Rejects Injunction In Wachovia, Ace Spat

Law360, New York (January 20, 2009, 12:00 AM EST) -- A federal appeals court ruled Friday a lower court was right in refusing to grant a preliminary injunction blocking Wachovia Insurance Agency Inc. from selling E-Risk Services assets to a newly created entity after a lawsuit was filed by Ace American Insurance Co.

Ace did not prove it would suffer irreparable harm if the transaction were not blocked, according to the U.S. Court of Appeals for the Third Circuit.

Ace filed suit in the U.S. District Court for the District of New Jersey in September, alleging...
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