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...
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.