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US Bank Gets Insurer's Records In $180M Insurance Suit

Law360, New York (April 10, 2017, 8:31 PM EDT) -- A South Carolina federal judge on Friday refused to stop the turnover of an insurer’s financial documents, but allowed the insurer to vet the information first, in a case alleging U.S. Bank NA negligently allowed two reinsurance companies to replace $180 million in assets held in trust accounts with worthless and highly illiquid assets.

U.S. District Judge J. Michelle Childs declined to quash the bank’s subpoena for Sussex Insurance Co.'s financial records, saying both parties had conceded that some of the requested information is not privileged...
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