SETTLEMENT REACHED IN REINSURANCE FRAUD DISPUTE
In a December 22, 2008 post, we reported on a group of litigants in two related lawsuits voluntarily withdrawing motions and claims against each other. In one of the lawsuits, the plaintiff, National Indemnity Company (“NIC”), alleged that the defendants schemed to coerce NIC into relinquishing certain contractual rights and the defendants counterclaimed that NIC schemed to defraud the defendants into purchasing certain stock. The judge in this case has since issued an order removing the motion to dismiss and summary judgment motion from the court’s calendar, stating that the parties reached an agreement to settle the claims and counterclaims. National Indem. Co. v. Greenwich St. Invs. II, LLC, Case No. 08-4067 (USDC S.D.N.Y. Aug. 26, 2009).
This post written by Dan Crisp.
