We have been tracking developments at the RAA Re Contracts Conference, which took place this week in New York, as previously reported on www.
The U.S. Supreme Court recently asked the Solicitor General to file a brief on behalf of the United States expressing its views on whether the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the "New York Convention") and the federal legislation that enforces it, the Federal Arbitration Act ("FAA"), are subject to the reverse preemption provision of the McCarran-Ferguson Act.
In American Home Assurance Co. v. American Re-Insurance Co., No. 60248506 (N.Y. Sup. Ct. May 27, 2010), the plaintiffs, several ceding companies, brought a declaratory judgment action against certain reinsurers (collectively, the “Reinsurers”) seeking reimbursement for portions of a settlement plaintiffs made with their insured, Monsanto Corporation.
In a recent decision, In re Assicurazioni Generali, 592 F.3d 113 (2d Cir. 2010) (“Generali”), the United States Court of Appeals for the Second Circuit affirmed the dismissal of plaintiffs’ claims on the ground that they were preempted by an Executive Branch foreign policy favoring the resolution of such claims solely through the International Commission on Holocaust Era Insurance Claims (“ICHEIC”).
The Connecticut Supreme Court recently affirmed summary judgment in favor of an insurance company on the basis that a wrongful termination lawsuit against an insured was related to a prior administrative action for unemployment benefits and was therefore excluded by the policy.
Petitioners ("Stolt-Nielsen") entered into a contract with respondent AnimalFeeds International Corporation that contained an arbitration clause.
The Supreme Court recently issued an important decision regarding the test for determining whether an investment adviser has violated its "fiduciary duty" to a mutual fund by charging excessive fees under 36(b) of the Investment Company Act of 1940.
On November 27, 2009, the United States Court of Appeals for the Eighth Circuit held that failure to warn claims directed at generic pharmaceutical manufacturers are not preempted by federal law.
During a discussion on the state of securities litigation, a panel comprised of prominent securities litigators discussed trends in securities class actions and legislation that is on the horizon.
The Connecticut Appellate Court recently held that the "substantial factor test" for causation remains unchanged and that traditional causation rules apply to workers’ compensation cases.