Holding Companies Say NICO's Claims are Unsupported
July 28, 2008
DOCUMENTS
- Motion to Dismiss
NEW YORK - The owners of Seaton Insurance Co. and Stonewall Insurance Co. asked a New York federal judge on July 23 to dismiss breach of fiduciary duty and breach of contract claims brought by National Indemnity Co. (NICO). National Indemnity Co. v. Greenwich Street Investments II, No. 08-4067 (S.D. N.Y.).
NICO's complaint, filed in U.S. District Court for the Southern District of New York, says the defendants schemed to deprive it of its claims administration rights and related fees to a prospective buyer, defendant Castlewood Holdings (US) Inc. (now Enstar (US) Inc.).
But the defendants contend that NICO …