Global Re Fails To Keep Equitas Antitrust Suit Alive

Law360, New York (March 27, 2012, 7:23 PM EDT) -- Global Reinsurance Corp. failed to preserve an antitrust suit against Lloyd’s of London entity Equitas Ltd., with New York’s highest court finding Tuesday that Equitas did not have the power to restrain competition in the reinsurance industry worldwide.

The New York Court of Appeals ruled that the case should be dismissed, siding with a state trial court judge and reversing a lower appeals court ruling that revived the case last year.

"Market power is the ability to raise prices significantly without losing business," the court's opinion...
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