STORY FROM: Reinsurance & Arbitration
Judge Remands Fraudulent Transfer Action Against Gen Re
February 4, 2009
TALLAHASSEE, Fla. - A Florida federal judge has remanded an action brought by the receiver of Aries Insurance Co. to recover allegedly improper and fraudulent transfers made under three reinsurance treaties issued by General Reinsurance Corp. In re The Receivership of Aries Insurance Co. v. General Reinsurance Corp., No. 02-CA-1128 (N.D. Fla.).
The complaint was remanded on Feb. 3 to the Leon County (Fla.) Circuit Court by Senior Judge William Stafford of the U.S. District Court for the Northern District of Florida on Oct. 7. Judge Stafford determined that application of the federal removal statute would interfere with the state's ...