North Star Seeks Default Judgment Against Harel

NEW YORK - North Star Reinsurance Corp. is urging a New York federal court to issue a default judgment requiring Harel Insurance Co. to pay sums due under two retrocessional treaties issued in the early 1970s. North Star Reinsurance Corp. v. Harel Insurance Co. f/k/a Zion Insurance Company Ltd., No. 1:08-cv-02380-DAB, (S.D. N.Y.).

In its July 16 motion, filed in the U.S. District Court for the Southern District of New York, North Star asserts that Harel has not appeared in the action. North Star seeks confirmation of an arbitration award that requires Harel to pay nearly $225,000 to North Star.