ACE Objects To Hostess' ADR Plan For Tort Claims

Law360, Wilmington (May 24, 2012, 8:49 PM EDT) -- ACE American Insurance Co. demanded changes Thursday to Hostess Brands Inc.'s plan to handle tort claims outside of court, saying the bankrupt Twinkie maker's alternative dispute resolution process needs to comport with its insurance policies.

With 434 liability claims potentially covered under its policies and subject to the alternative dispute resolution proposal, ACE lodged an objection in New York bankruptcy court outlining various aspects of the plan that it said could impinge on the insurer's rights or run afoul of state insurance laws.

“[T]he ADR procedures...
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.