Court Declines To Seal Confidential Reinsurance Provisions

more+
less-

A New York federal court declined to seal portions of a reinsurance agreement at the request of intervening reinsurer Battenkill Insurance Co., LLC (“Battenkill”). Battenkill intervened in an interpleader action brought by Wells Fargo Bank regarding the respective of rights of the various defendants to certain trust proceeds. Battenkill sought to introduce its reinsurance agreement with one of the defendants, and moved to have the agreement sealed due to, what the Court deemed to be “boilerplate” concerns about confidential, proprietary information. The Court held that redacting the agreement as requested would eliminate key, relevant terms pertinent to Battenkill’s substantive grounds for intervention, and might also preclude objecting parties from relying on further redacted portions in any response thereto. It therefore held that Battenkill had not met the high threshold necessary to sealing. Wells Fargo Bank, N.A. v. Wales LLC, No. 13-Civ-6781 (USDC S.D.N.Y. Jan. 27, 2014)

Topics:  Confidential Information, Reinsurance, Sealed Records, Wells Fargo

Published In: Civil Procedure Updates, Finance & Banking Updates, Insurance Updates, Intellectual Property Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Carlton Fields Jorden Burt | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »