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...
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