Jason Brost

Jason Brost

Carlton Fields

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Federal Circuit Upholds $455 Million International Arbitration Award, But Finds That Federal Statutory Interest Rate, Rather Than...

The Federal Circuit has upheld a district court’s confirmation of a $455 million award by an international arbitration tribunal, but modified the judgment to clarify that, after the date of the district court’s judgment...more

3/22/2017 - Arbitration Arbitration Awards Federal Arbitration Act Intellectual Property Protection International Arbitration Motion to Amend Patent Infringement Patent Litigation Patents Post-Judgment Interest

Sixth Circuit Finds It Has No Jurisdiction Over Appeal Of Order Compelling Arbitration And Enjoining State Court Proceedings

The Sixth Circuit has dismissed the appeal of an order granting a motion to compel arbitration and to enjoin certain state court proceedings, finding the order was not appealable because the district court stayed the matter...more

3/21/2017 - Appeals Arbitration Arbitration Agreements Dismissals Health Care Providers Motion to Compel Nursing Homes Stays

Court Confirms Arbitration Award, Rejecting Claim That Arbitrator Exceeded His Powers And Ignored The Law

A court has confirmed an arbitration award of more than $8 million in damages, attorneys’ fees and costs against Sirona Dental Systems, Inc. and Arges Imaging Inc. (collectively “Respondents”) in favor of Petitioners, who...more

3/1/2017 - Arbitration Arbitration Awards Attorney's Fees Breach of Contract Manifest Disregard Merger Agreements Motion to Vacate Technology Technology Sector

Appellate Court Rejects Claim Of Arbitrator Bias Based On Umpire’s Service As A Party Arbitrator In Other Matters Involving A...

The Second Circuit has rejected the attempt of a retrocedent, IRB Brasil Reseguros S.A. (“IRB”), to vacate certain arbitration awards against it in favor of its retrocessionaire, National Indemnity Company (“NICO”). IRB...more

2/28/2017 - Arbitration Arbitration Awards Federal Arbitration Act Motion to Vacate Reinsurance

Court Refuses To Compel Production Of Cedent’s Documents To Reinsurer When Extent Of Cedent’s Obligation To Provide Documents Is...

A court has denied a motion to reconsider its decision denying a reinsurer’s (Century Indemnity Co.) motion to compel an insurer (Travelers Casualty and Surety Company) to produce certain documents in a case in which...more

2/8/2017 - Asbestos Asbestos Litigation Declaratory Judgments Discovery Insurance Claims Insurance Industry Insurance Litigation Motion to Compel Motion To Reconsider Reinsurance Travelers Property Casualty Co.

Court Affirms Ruling Denying Motion To Compel Arbitration On The Basis That Contract Was Invalidated By Fraud

The Ninth Circuit, in an unpublished opinion, has found that a contract, and therefore an arbitration clause within it, was unenforceable due to fraud in the inception, despite the fact that both parties had ample opportunity...more

2/6/2017 - Arbitration Fraud Mandatory Arbitration Clauses Motion to Compel

NY DFS Issues Circular Letter Addressing Life Insurance Unfair Claims Settlement Practices During the Contestability Period

On January 26 – in its first-issued circular letter of the year – the New York Department of Financial Services (DFS) reminded life insurers doing business in the state that they can only contest claims following the death of...more

1/27/2017 - Beneficiaries Decedent Protection Insurance Industry Life Insurance Medical Records Misrepresentation NYDFS

Court Approves Direct Payment Of Reinsurance To Insured In Reliance Insurance Company Liquidation

The court handling the liquidation of Reliance Insurance Company has approved an application for the direct payment of reinsurance proceeds by United Insurance Company to Reliance’s insured, Hoechst Celanese Corporation, with...more

1/19/2017 - Insurance Industry Insurance Litigation Liquidation Reinsurance

Court Finds That Enron’s Fraud Does Not Void Contract Entered Into With Enron Subsidiary

A federal appellate court has upheld a district court order enforcing an arbitration award by the ICC against the Republic of Nigeria in favor of Enron Nigeria Power Holdings, Ltd. (“ENPH”), a former subsidiary of Enron...more

1/17/2017 - Appeals Arbitration Arbitration Awards Breach of Contract Contract Terms Energy Sector Enron Fraud ICC Nigeria Power Plants Public Policy

Party Cannot Appeal Decision That District Court Did Not Make Regarding Motion To Vacate Arbitration Award

The Sixth Circuit has declined to rule on a motion to vacate an arbitration award, which was brought at the same time as a successful motion to dismiss the action for forum non conveniens, when the district court had not...more

12/29/2016 - Arbitration Arbitration Agreements Arbitration Awards Mandatory Arbitration Clauses Motion to Vacate

Fourth Circuit Refuses To Vacate FINRA Arbitration Award, Despite Party’s Claim That It Had No Opportunity To Participate In...

UBS Financial Services’ motion to vacate a FINRA arbitration award was denied, despite its claims that the panel was improperly chosen and that the panels damages award was flawed in that it did not impose an offset. UBS...more

12/27/2016 - Arbitration Arbitration Agreements Arbitration Awards Arbitrators Financial Sector FINRA Loans Motion to Vacate

Illinois Courts: Fixed Indexed Annuities Are Not Securities

In 2009, the Securities and Exchange Commission (SEC) attempted to regulate fixed indexed annuities (FIAs) as securities by issuing Rule 151A. Previously, FIAs were treated as exempt insurance products. After the D.C. Circuit...more

10/27/2016 - Annuities Insurance Industry Life Insurance SEC Securities

Two Federal Courts Uphold Criminal Convictions for Insurance Brokers

Two federal appellate decisions highlight the potential criminal liability for rogue agents. First, in United States v. Binday, the Second Circuit Court of Appeals upheld mail and wire fraud convictions of three individuals...more

4/29/2016 - Criminal Prosecution Insurance Fraud Insurance Industry Life Insurance Mail Fraud STOLI Variable Annuities Wire Fraud

Class Certified in Unique Fixed Indexed Annuity Case

The creative theories of liability and damages on display in the recent certification of multiple classes suggest that the long run of annuity class actions is not over yet. Plaintiff in Abbit v. ING USA Annuity and Life...more

4/29/2016 - Annuities Breach of Contract Class Action Class Certification Fiduciary Duty Fraud Insurance Industry Investment Life Insurance

Ninth Circuit: Common Issues Do Not Predominate in Mortgage Borrowers’ Action

The Ninth Circuit affirmed an order denying class certification in a case involving allegations that a mortgage servicer wronged borrowers through its implementation of the federal Home Affordable Modification Program (HAMP)....more

3/11/2016 - Class Action Class Certification HAMP Mortgage Servicers Rule 23(b)(2)

Trademarks in Cuba, Successful Whistleblowers, Big Data, Health Care Encryption, Jury Instruction Tips [Expect Focus – Vol. 1,...

IN THE SPOTLIGHT · Is your Company Ready to Comply with Encryption of Individually Identifiable Health Information? LIFE INSURANCE · STOLI Schemers Must Make Good on Damages Caused · At the State Level, Is a Fixed-Index...more

4/10/2015

At the State Level, Is a Fixed-Index Annuity?

The so-called Harkin Amendment to the Dodd-Frank Act was intended to keep fixed-index annuities outside the SEC’s jurisdiction. But the issue remains unsettled on the state level. For example, an Illinois state court recently...more

4/1/2015 - Amended Regulation Annuities Dodd-Frank Insurance Contracts SEC Securities

Expect Focus - Catching The Next Wave, Regulatory and Litigation Developments - Volume II, Spring 2014

In This Issue: - IN THE SPOTLIGHT ..Private Equity: The Next Wave of SEC Enforcement Actions? - LIFE INSURANCE ..How to Fight a STOLI Scheme: Court Rulings Offer Clues ..STOA Schemes Face...more

7/22/2014 - Compliance Enforcement Enforcement Actions PBGC Private Equity Property Insurance SEC Title Insurance

Harsh Justice

Concerned that its own decision might have "the potential to conflict" with that of the Pennsylvania Insurance Department, a Pennsylvania federal court relied on the primary jurisdiction doctrine to dismiss a putative class...more

7/11/2014 - Insurance Industry Life Insurance Primary Jurisdiction Doctrine Putative Class Actions

SEC: Justice Deferred Is Justice Served

The SEC recently announced its first deferred prosecution agreement (DPA) with an individual. The individual had recently resigned as the administrator of the Hepplewhite Fund, LP, a Connecticut-based hedge fund, and...more

4/29/2014 - Deferred Prosecution Agreements Enforcement Actions SEC Whistleblowers

Expect Focus - Volume 1, Winter 2014

In This Issue: - IN THE SPOTLIGHT ..Sixth Circuit Revisits Controversial ERISA Decision - LIFE INSURANCE ..Summary Judgment Victory for Life Insurer in Annuity Class Action ..Favorable Secondary Life Market...more

3/31/2014

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