Swiss Re Suit Over Indemity Remanded

Law360, New York (May 7, 2009, 12:00 AM EDT) -- Swiss Reinsurance America Corp. may still be able to recover from PEC Contracting Engineers funds it lost in reinsuring an indemnification agreement, now that a federal appeals court has remanded a dispute over the arrangement.

The U.S. Appeals Court for the Third Circuit on Tuesday vacated and remanded a lower court's ruling, saying it was unclear whether Swiss Reinsurance was entitled to indemnification, or whether the agreement was enforceable.

Earlier, the U.S. District Court for the Western District of Pennsylvania had granted PEC's motion and denied...
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