N.Y. Federal Judge Confirms Award Issued in Favor of Global Re
August 15, 2012
NEW YORK — A New York federal judge has confirmed an arbitration award issued in favor of Global Reinsurance Company Ltd. in a dispute over the reduction of Global’s reinsurance obligations to American Centennial Insurance Co. American Centennial Insurance Co. v. Global International Reinsurance Company Ltd., No. 12-1400 (S.D. N.Y.).
Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York ruled that in awarding Global a 15 percent reduction and interest, the arbitrators did not exceed their authority, nor did they manifestly disregard the law. The judge noted that the arbitrators went further than ...