TransRe Defeats Berkshire's Asbestos Liability Suit

Law360, New York (November 15, 2013, 4:14 PM EST) -- Transatlantic Reinsurance Co. and its parent Alleghany Corp. on Thursday beat two Berkshire Hathaway Inc. companies' lawsuit claiming they had used deceptive practices to rid themselves of "crippling" asbestos liabilities.

Judge Thomas Billings granted the defendants' motion to dismiss the suit, in which Resolute Management Inc. and National Indemnity Co. accused TransRe of unjustifiably withholding amounts it owed under reinsurance contacts with insurers that NICO and claims adjuster Resolute represented.

The plaintiffs accused TransRe and Alleghany of interfering with their ability to meet their contractual duties to...
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