2nd Circ. Backs Remand Of Reinsurance Policy Suit

Law360, New York (December 3, 2010, 3:01 PM EST) -- A $3 million reinsurance dispute between the liquidator of now-defunct Midland Insurance Co. and Serbia-based Dunav Re a.d.o. will remain in state court, a federal appeals court has ruled, upholding a lower court's decision.

A three-judge panel in the U.S. Court of Appeals for the Second Circuit ruled Wednesday that the U.S. District Court for the Southern District of New York was correct to remand the dispute, rejecting arguments by Dunav that a so-called service of suit provision in reinsurance agreements was ambiguous and should have...
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