UPDATE: LETTER OF CREDIT DISPUTE RESOLVED
In a March 25, 2008 posting, we reported on the Order of a district court which denied a motion to dismiss claims arising out of the refusal to release letters of credit which had been posted as security for a rent-a-captive reinsurance program. Less than two weeks after the entry of that Order, the parties filed a stipulation for dismissal of the action with prejudice. The Order apparently facilitated the resolution of the issues. WEB Management LLC v. Arrowood Indemnity Co., Case No. 07-424 (USDC D. Conn. Mar. 17, 2008).
This post written by Rollie Goss.
