Ace, NY Life Ordered To Arbitrate $75M Sale Price Row

Law360, New York (July 13, 2012, 1:57 PM EDT) -- A New York state judge ruled Thursday that Ace Ltd. and New York Life Insurance Co. must arbitrate their dispute over the $75 million sale of a Korean branch of New York Life to Ace in October 2010.

Judge Shirley Kornreich said the explicit language of the arbitration provision of a share purchase agreement between an Ace subsidiary and a New York Life affiliate requires the parties to resolve their dispute over the proper value of the Korean branch, Tiger Korea, in arbitration.

New York Life...
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