NEW YORK - An insurer argues in a June 21 reply brief filed in a New York federal court that a Brazilian reinsurer is obligated to pay $5 million under an arbitration award so that the insurer can pay a settlement it reached with a steel maker in a related dispute (National Indemnity Co. v. IRB Brasil Resseguros S.A., No. 15-3975, S.D. N.Y.).
NEW YORK - A New York federal judge on June 21 dismissed an Employee Retirement Income Security Act putative class action that alleged that a record keeper's advice arrangement constituted a breach of fiduciary duty resulting in excessive fees, saying that the plaintiff failed to allege facts showing that the defendants were ERISA fiduciaries with respect to their fees (Lisa Patrico v. Voya Financial Inc., et al., No. 16-cv-7070, S.D. N.Y., 2017 U.S. Dist. LEXIS 95735).
ALBANY, N.Y. - An appeals court panel in New York on June 22 upheld a ruling finding that a man's breach of warranty suit over an allegedly defectively installed pool was untimely because it was filed more than six years after the pool was installed (Paul Fallati v. Concord Pools, Ltd., No. 524075, N.Y. Sup., App. Div., 3rd Dept., 2017 N.Y. App. LEXIS 5089).
NEW YORK - A pollution exclusion precludes coverage for an environmental damage claim with an insolvent insurer, the First Department New York Supreme Court Appellate Division affirmed June 22 (In re Midland Insurance Co.; ASARCO LLC, v. The Superintendent of Financial Services of the State of New York, in her capacity as liquidator of Midland Insurance Co., No. 41294/86, N.Y. Sup., App. Div., 1st Dept., 2017 N.Y. App. Div. LEXIS 5065).
NEW YORK - New York asbestos plaintiffs may pursue punitive damage claims going forward under a newly instituted case management order (CMO) that also includes changes to hearsay rules designed to help offset the negative impact such a change will have on defendants, the coordinating justice said June 20 (In re: New York City Asbestos Litigation, All Asbestos Cases., No. 40000/88, N.Y. Sup., New York Co.).
UTICA, N.Y. - After an insurer opposed a previous request to move a trial date in a reinsurance late-notice dispute, a reinsurer on June 19 asked a New York federal court to push back the date, this time to after Nov. 10, explaining that all witnesses will be available after that date (Utica Mutual Insurance Co. v. Fireman's Fund Insurance Co., No. 09-cv-00853, N.D. N.Y.).
WASHINGTON, D.C. - In its June 19 order list, the U.S. Supreme Court denied a petition for certiorari by the founder of now-defunct online music-sharing service MP3Tunes LLC, who argued that neither he nor his former company had sufficient contacts with New York to establish personal jurisdiction over him in a copyright infringement lawsuit brought by a group of record labels (Michael Robertson v. EMI Christian Music Group, et al., No. 16-1227, U.S. Sup., 2017 U.S. LEXIS 3969).
NEW YORK - A reinsurer's loan was not a fraudulent conveyance because a loan advance, regardless of the size of the collateral pledged, is "fair consideration" for the pledge, the First Department New York Supreme Court Appellate Division ruled June 20 (Stillwater Liquidating LLC v. Partner Reinsurance Company Ltd., et al., No. 4339 652451/15, N.Y. Sup., App. Div., 1st Dept., 2017 N.Y. App. Div. LEXIS 4965).
ROCHESTER, N.Y. - An appeals court panel in New York on June 16 affirmed a trial court judge's ruling denying a man's motion to withdraw a plea of guilty to one count of insurance fraud, finding that his attorney properly advised him about the risk of deportation associated with the decision (People of the State of New York v. Rayon L. Wong, No. 799 KA 11-00094, N.Y. App., 4th Dept., 2017 N.Y. App. Div. LEXIS 4919).
WASHINGTON, D.C. - The U.S. Supreme Court on June 19 denied a petition for a writ of certiorari to review a judgment of the Second Circuit U.S. Court of Appeals ruling that a pension fund had no standing to assert breach of fiduciary duty claims under the Employee Retirement Income Security Act against its investment adviser for continuing to recommend investment in a Ponzi scheme when the adviser had privately expressed significant doubts about the continued prudence of that investment vehicle (Trustees of the Upstate New York Engineers Pension Fund v. Ivy Asset Management, et al., No. 16-1377, U.S. Sup.).
NEW YORK - A company waived privilege over a redacted attorney-client memo providing advice involving the asbestos-cement pipe business due to its repeated disclosure concessions, but the company's more strenuous efforts regarding an unredacted version keeps it privileged, a New York appeals court held June 15 (Richard Warren v. Amchem Products Inc., et al., No. 4297, 190281/2014, N.Y. Sup., App. Div., 1st Dept., 2017 N.Y. App. Div. LEXIS 4808).
NEW YORK - A Brazilian reinsurer on June 14 argued that a New York federal court should deny an insurer's request for $5 million under an arbitration award in order to pay a settlement it reached with a steelmaker because the settlement does not require reinsurance coverage (National Indemnity Co. v. IRB Brasil Resseguros S.A., No. 15-3975, S.D. N.Y.).
NEW YORK - Three reinsurance executives on June 15 requested that a New York federal court send a $50 million Racketeer Influenced and Corrupt Organizations Act case against them to arbitration, arguing that the arbitration clause in the reinsurance agreement applies to them as well as their company (Bankers Conseco Life Insurance Co. and Washington National Life Insurance Co. v. Moshe M. Feuer, et al., No. 16-7646, S.D. N.Y.).
BROOKLYN, N.Y. - A New York federal judge on June 14 said a disability insurer did not act arbitrarily and capriciously in relying on the American Psychiatric Association's definition of mental illness when determining that bipolar disorder is a mental illness and subject to the plan's 24-month cap on disability benefits for a mental illness (Marry Kim v. The Hartford Life Insurance Co., No. 15-2474, E.D. N.Y., 2017 U.S. Dist. LEXIS 91660).
UTICA, N.Y. - Following failed settlement talks, a reinsurer in a June 12 letter requests that a New York federal court move the trial date in a reinsurance dispute from September to October to accommodate the schedule of its two key witnesses (Utica Mutual Insurance Co. v. Fireman's Fund Insurance Co., No. 09-cv-00853, N.D. N.Y.).
NEW YORK - A total of 13 settlements in 2016 were large enough to be added to the top 100 list of securities class action settlements, including one to the top 10 all-time, in terms of total settlement amount, according to a report issued by corporate governance solutions provider Institutional Shareholder Services Inc. (ISS) Securities Class Action Services Inc. on June 13.
NEW YORK - Efforts by Justin Timberlake and other defendants to dismiss a request for copyright infringement damages occurring before Feb. 17, 2013, were denied June 13 by a New York federal judge (PK Music Performance Inc. v. Justin Timberlake, et al., No. 16-1215, S.D. N.Y., 2017 U.S. Dist. LEXIS 90562).
NEW YORK - A New York federal bankruptcy judge held June 12 that a foreign specialty reinsurance company must post a bond in the amount of $15 million before a pending motion to compel arbitration of the dispute in Bermuda would be considered (In re: MF Global Holdings Ltd., et al. MF Global Holdings Ltd. as plan administrator, and MF Global Assigned Assets LLC v. Allied World Assurance Company Ltd., et al., Chapter 11 No. 11-15059, Adv. Proc. No. 16-01251, S.D. N.Y. Bkcy., 2017 Bankr. LEXIS 1585).
ROCHESTER, N.Y. - A New York appellate panel on June 9 reversed a jury's verdict finding a woman guilty of arson, attempted insurance fraud and conspiracy after finding that the prosecutor's questioning of her husband about his criminal history and comments about the defendant's financial condition were prejudicial (People of the State of New York v. Shallamar L. Hayward-Crawford, No. 405 KA 14-01824, N.Y. Sup., App. Div., 4th Dept., 2017 N.Y. App. LEXIS 4506).
NEW YORK - A panel of the Second Circuit U.S. Court of Appeals on June 12 vacated and remanded a summary judgment ruling in a groundwater contamination lawsuit brought by a California water district against oil and gasoline companies on grounds that a district court's res judicata ruling was not appropriate because privity was not established (In Re: Methyl Tertiary Butyl Ether Products Liability Litigation: Orange County Water District v. Texaco Refining and Marketing Inc. n/ka TMR Company, No. 15-3934, 2nd Cir., 2017 U.S. App. LEXIS 10412).