Ace, NY Life Ordered To Arbitrate $75M Sale Price Row

Law360, New York (July 13, 2012, 1:57 PM ET) -- A New York state judge ruled Thursday that Ace Ltd. and New York Life Insurance Co. must arbitrate their dispute over the $75 million sale of a Korean branch of New York Life to Ace in October 2010.

Judge Shirley Kornreich said the explicit language of the arbitration provision of a share purchase agreement between an Ace subsidiary and a New York Life affiliate requires the parties to resolve their dispute over the proper value of the Korean branch, Tiger Korea, in arbitration.

New York Life...
To view the full article, register now.