3rd Circ. Upholds Nixing Of Lloyd's Contracts

Law360, New York (August 18, 2010, 7:16 PM EDT) -- A federal appeals court has affirmed an arbitration award rescinding three of the four reinsurance treaties issued to two Pennsylvania insurers by a Lloyd's of London syndicate, while lifting sanctions imposed on the insurers' counsel Pepper Hamilton LLP in its bid to overturn the award.

A three-judge panel in the U.S. Court of Appeals for the Third Circuit on Wednesday rejected now-liquidated Legion Insurance Co. and Villanova Insurance Co.'s appeal of a district court's confirmation of an August 2008 arbitration award that upheld only one of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.