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AIG directors facing massive suit

Jorden Burt LLP
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USA
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April 29 2009

In a recent opinion, the Delaware Court of Chancery ruled on several motions to dismiss in the AIG Consolidated Derivative Litigation

Court denies motion to dismiss finding alternative avenue for recovery

Jorden Burt LLP
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USA
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May 14 2009

In an action arising out of an alleged failure to honor a reinsurance agreement, defendant reinsurer Carnforth Limited filed a third-party complaint against Mosaic Global Holdings asserting two breach of contract claims and a declaratory judgment claim

Court of Appeals determines that claims must be arbitrated

Jorden Burt LLP
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USA
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December 4 2009

Following the entry of a $40 million judgment against them at a jury trial on claims of fraudulent inducement with respect to two reinsurance facilities, the AIG defendants appealed to the Second Circuit, arguing in part that the claims brought by AXA should have been arbitrated because they sound in contract

District court denies summary judgment in Olson, finds reinsurer had right to seek review

Jorden Burt LLP
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USA
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December 17 2009

In the latest development in the Olsen v. United States case, the US District Court for the Eastern District of Washington issued an Order denying Plaintiffs’ Motion for Partial Summary Judgment

Eastern District of New York denies motion to amend: holds claim would be futile

Jorden Burt LLP
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USA
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September 23 2009

On August 24, 2009, the Eastern District of New York ruled on plaintiff Callon Petroleum’s motion to amend its complaint by adding a statutory claim for punitive damages based on defendant National Indemnity’s bad faith failure to make a timely payment following the submission of the bond claim in the action

District court finds contracting parties in privity, dismisses third-party complaint

Jorden Burt LLP
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USA
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September 22 2009

In the latest development of Guaranteed Trust Life’s ("GTL") suit for reinsurance benefits from First Student Programs, the Northern District of Illinois granted in full third-party defendant American United Life’s ("AUL") motion to dismiss

English court circumvents arbitration clause and retains jurisdiction over dispute between French and English co-insurers

Jorden Burt LLP
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United Kingdom
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June 11 2009

A UK appellate court recently dismissed a French insurer’s jurisdictional challenge to a lawsuit initiated against it by an English insurer

District court finds “attorney fees and court costs” ambiguous; upholds arbitration panel

Jorden Burt LLP
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USA
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October 8 2009

Following a dispute over eight reinsurance agreements, Century Indemnity moved to confirm in part and vacate in part an arbitration award ordering Fencourt Reinsurance to pay a certain sum owed under the agreements

District court finds no subject matter jurisdiction in AIG suit

Jorden Burt LLP
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USA
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October 6 2009

The District Court for the District of New Jersey recently granted defendant AIG’s motion to dismiss Robert Plan Corporation’s claims arising out of a series of reinsurance agreements between the parties

District court denies Lloyds’ rule 59 motion in dispute with Employers Insurance; second appeal follows

Jorden Burt LLP
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USA
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December 29 2009

In our 11909 post, we reported on the dispute between Employers Ins. and Lloyds of London