Reinsurers Can't Shake Fight Over Finance Co.'s $26M Award
Law360 (April 29, 2019, 5:21 PM EDT) -- A D.C. federal judge has declined to nix Vantage Commodities Financial Services I LLC’s revamped claims that seven reinsurers must help cover a $26 million arbitration award the finance company won against its insurer, finding the allegations plausible.
U.S. District Judge Trevor N. McFadden on Friday said the amended complaint sufficiently alleged an implied contract with reinsurance carriers that backed a “credit insurance” policy Vantage obtained to insure an extension of credit, pointing out that he already considered and accepted the allegation in his November order allowing the financial company to tweak its suit.
“Whether Vantage can prove its claims is...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.