NY Court Revives Antitrust Suit Against Equitas

Law360, New York (January 12, 2011, 6:52 PM EST) -- A New York appeals court has revived Global Reinsurance Corp.'s lawsuit accusing Equitas Ltd. of conspiring with underwriters at Lloyd’s of London to restrain competition in retrocessional claims activity.

In a 4-1 decision Tuesday, the Appellate Division of the New York State Supreme Court reversed a lower court's decision to dismiss Global's antitrust suit.

The case, launched in December 2007, alleges Equitas violated the Donnelly Act, New York’s version of the Sherman Act, by plotting with a group of underwriters in the Lloyd’s of London insurance...
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