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Arbitration Provision Enforceable Despite Questions About Legitimacy Of Remainder Of Agreement

A New York state trial court has denied a motion to stay arbitration in an action brought by plaintiffs, a private equity firm and its affiliate, against defendants, two of plaintiffs’ former officers, despite plaintiffs’...more

Court Rejects Motion To Seal Summary Judgment Exhibits When Moving Party Fails To Provide Sufficient Factual Justification For...

Utica Mutual Insurance Company’s request that numerous exhibits filed in support of summary judgment be sealed has been rejected by a federal district court, which found that Utica’s general statements about the documents...more

Court Rejects Claim That Arbitrator’s Ruling Was In Manifest Disregard Of The Law

A court has granted a petition to confirm an arbitration award despite the defendant’s argument that the arbitrator acted in manifest disregard of the law. While acknowledging questions regarding the continuing viability of...more

Third Circuit Permits Limited Discovery On Issue Of Validity Of Arbitration Agreement

In an unpublished opinion, the Third Circuit affirmed a decision denying a defendant bank’s motion to dismiss a consumer complaint in favor of arbitration when the contract containing the arbitration clause was not referenced...more

Tenth Circuit Finds That Arbitration Agreement Governs Dispute

The Tenth Circuit has determined that an arbitration agreement included as part of a set of agreements executed in connection with the purchase of a pickup truck applied to a dispute over a replacement set of agreements that...more

Discovery Opinions Show Limits Of Privilege And Broad Standard Of Relevance

Three recent opinions issued by courts highlight the scope and limitations of a party’s right to discovery of reinsurance, reserve and allegedly privileged information in insurance coverage disputes....more

Arkansas Revises Regulation Of Captive Insurance Companies To Create Incorporated Protected Cells And Dormant Captive Insurance...

Arkansas has amended its statutory regulation of captive insurance companies in two significant ways. First, following the lead of several other states and foreign jurisdictions, the amendment provides for the creation of...more

District Court Find No Federal Question Jurisdiction In Action Challenging Arbitration Award Based On Arbitrator Bias

A federal court has rejected the attempt of the losing party in an arbitration to engage in discovery regarding the potential bias of the arbitrator, finding that it had no jurisdiction over the matter because it did not...more

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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