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Bankruptcy court denies reinsurers’ motion to determine debt owed to them is nondischargeable

Jorden Burt LLP
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USA
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March 5 2013

A Massachusetts bankruptcy court denied the motion for summary judgment of reinsurers Trenwick America Reinsurance Corporation and Unum Life

Update of NAIC separate account initiatives

Jorden Burt LLP
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USA
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June 5 2012

Concerned about the use of separate accounts to fund products with general account guarantees, the NAIC continues to examine these products and to consider how these products and the underlying assets should be regulated and treated for insolvency purposes

Court affirms denial of “contingent” asbestos claims against liquidation estate of excess insurer

Jorden Burt LLP
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USA
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February 20 2012

A court affirmed the denial of W.R. Grace & Co.’s asbestos insurance claims against the liquidation estate of Grace’s insolvent excess-of-loss insurer, on the ground that Grace failed to submit timely “absolute” claims under New Jersey’s version of the Uniform Insurers Liquidation Act

State guaranty association can pursue court action seeking reimbursement for improperly paid claims

Jorden Burt LLP
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USA
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February 14 2012

Reliance Insurance Company in Liquidation petitioned a Pennsylvania state court for a declaratory judgment holding that Aramark Corporation must reimburse certain state guaranty associations (“GAs”) for claims allegedly improperly paid to Aramark and subsequently presented to the Reliance Estate by the GAs for payment

English court upholds enforcement of Australian judgment against insolvent reinsurer

Jorden Burt LLP
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USA
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December 8 2011

An English appellate court permitted an Australian reinsurer in liquidation to enforce a judgment entered in Australian insolvency proceedings against a Lloyd’s syndicate, which had elected not to participate in the foreign proceedings

Bankruptcy Court values captive reinsurance subsidiary of Washington Mutual

Jorden Burt LLP
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USA
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November 10 2011

Recently, the US Bankruptcy Court for the District of Delaware denied the request of Washington Mutual and WMI Investment Corp. (collectively the Debtors) for confirmation of the Modified Sixth Amended Joint Plain of Affiliated Debtors

Progress in Dodd-Frank implementation

Jorden Burt LLP
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USA
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November 8 2011

A number of activities of potential significance have occurred in the implementation of the Dodd-Frank Act

Bankruptcy Court partially grants objections arising out of captive reinsurance program

Jorden Burt LLP
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USA
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November 2 2011

Frontier Insurance, in rehabilitation, filed proofs of claim following the Chapter 11 bankruptcy of Black, Davis & Shue Agency

Court considers privilege assertions in dispute involving asbestos trust, excess liability insurer, and reinsurance

Jorden Burt LLP
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USA
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October 18 2011

In a suit between a bankruptcy trust established to resolve a defunct corporation’s asbestos-related personal injury liabilities and the corporation’s excess liability insurer that had denied coverage to the trust in connection with the asbestos claims, a court resolved various attorney client privilege and work product protection issues

Amico disputes cash holdings in Manhattan Re rehabilitation

Jorden Burt LLP
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USA
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October 17 2011

In response to a rehabilitation plan for Delaware insurance company Manhattan Re proposed by its receiver, American Motorists Insurance Company (a reinsurer of Manhattan Re) filed objections with the Delaware Court of Chancery