PETITION TO COMPEL REINSURANCE ARBITRATION DISMISSED AFTER UMPIRES SELECTED
A court recently dismissed a case brought to compel arbitration in a asbestos reinsurance coverage dispute between Century Indemnity Company and Everest Reinsurance Company, after the parties reported to the court that they had finally installed umpires in multiple arbitrations related to the dispute. The parties had previously agreed to an ARIAS neutral selection process in November 2011 as part of a global agreement involving the arbitrations, but a report filed by the parties in January 2012 reflected that no agreement as to the umpires could then be reached. Everest Reinsurance Co. v. Century Indemnity Co., Case No. 11-5893 (USDC S.D.N.Y. June 29, 2012).
This post written by Michael Wolgin.
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