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Article

Locke Lord LLP | USA | 3 Jan 2011

Second Circuit finds that service of suit provision in treaties unambiguously waived reinsurer's right of removal

The U.S. Court of Appeals for the Second Circuit recently affirmed a district court decision that remanded to state court a lawsuit asserted by the Liquidator of Midland Insurance Company against its reinsurer, Dunav Re, finding that the Service of Suit clause in the reinsurance treaties at issue unambiguously waived Dunav Re's right to remove the dispute to federal court.

Article

Locke Lord LLP | USA | 13 Dec 2010

Second Circuit determines party waived its right to arbitrate

Recently, the U.S. Court of Appeals for the Second Circuit affirmed a district court’s ruling denying the motion of plaintiffs-appellants (collectively “LSED”) to compel arbitration of a dispute with Merrill Lynch, Pierce, Fenner & Smith Inc. (“MLPFS”), finding that LSED waived its right to arbitrate by litigating the case for nearly a year before filing its motion.

Article

Locke Lord LLP | United Kingdom | 11 Nov 2010

Scottish Lion - waiver of privilege by creditor participating in scheme of arrangement

In another instalment of the Scottish Lion saga (see our previous blog entries here, here and here) the Outer House of the Court of Session (the Scottish First Instance Court) has ruled that where a scheme creditor submits documents in support of his claim for voting purposes at the creditors' meeting convened to approve a scheme of arrangement, he is deemed to have waived any privilege there might have been in such documents.

Article

Locke Lord LLP | United Kingdom | 5 Nov 2010

High Court finds insurers not on risk because of non-disclosure and breach of warranty

In the case of Sugar Hut Group Ltd & Ors v Great Lakes Reinsurance (UK) Plc & Ors 2010 EWHC 2636 (Comm) Mr Justice Burton reaffirmed the English Court's approach to non-disclosure and breach of warranty.

Article

Locke Lord LLP | USA | 4 Oct 2010

Third Circuit rules that clear and unambiguous intent is required to opt out of the removal provision and vacatur standards of the FAA and convention

A recent decision of the Third Circuit Court of Appeals, Ario, Insurance Commissioner of the Commonwealth of Pennsylvania, in his official capacity as the statutory liquidator of Legion Insurance Company (in liquidation) v. The Underwriting Members of Syndicate 53 at Lloyd’s for the 1998 Year of Account, No. 09-1921, 09-2989 and 09-2991 (3d Cir. 2010), involved a dispute between the Liquidator of Legion and Villanova, as cedents, and The Underwriting Members of Syndicate 53 at Lloyd’s for the 1998 Year of Account, as reinsurers, which concerned whether the cedents had properly underwrote the business described in the reinsurance placement materials.

Article

Locke Lord LLP | USA | 30 Sep 2010

Florida plans to seek waiver of medical loss ratio requirements of PPACA

On September 24, 2010, the Florida Health Insurance Advisory Board and the state's Office of Insurance Regulation (OIR) held a joint public hearing to review the impact of the Medical Loss Ratio (MLR) requirements contained in the Patient Protection and Affordable Care Act of 2010.

Article

Locke Lord LLP | USA | 28 Sep 2010

Federal court denies insured’s motion to vacate arbitration award: finds that reinsurer was not indispensable party to dispute, arbitrators had authority to award attorneys’ fees, and manifest disregard of the law is no longer viable

Plaintiffs sued their insurer, Northbrook Indemnity Company, which removed the case to federal court and moved to compel arbitration.

Article

Locke Lord LLP | USA | 7 Sep 2010

Massachusetts court says subrogation waiver can survive project completion

In a case of first impression, the Massachusetts Appeals Court has ruled that an insured's waiver of its carrier's subrogation rights can survive the completion of a construction project.

Article

Locke Lord LLP | USA | 1 Sep 2010

Second Circuit finds that reinsurer’s fraud claims are not arbitrable, but reverses district court’s judgment and holds that those claims are time-barred, relieving cedents of liability

Defendants, certain ceding companies, appealed a judgment from the U.S. District Court for the Southern District of New York holding them liable for fraudulently inducing the plaintiff reinsurer to enter into two reinsurance facilities.

Article

Locke Lord LLP | USA | 1 Sep 2010

Second Circuit finds that class arbitration waiver clause is unconscionable, refuses to compel arbitration

In Fensterstock v. Education Finance Partners and Affiliated Computer Services, Inc., plaintiff Fensterstock commenced a class action lawsuit in the Southern District of New York against Education Finance Partners and Affiliated Computer Services for engaging in fraudulent and deceptive practices in connection with the issuance of student loans.

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