NICO Not Entitled To Judgment on Counterclaims, Dukes Place Says

NEW YORK - Dukes Place Holdings L.P. asserts that counterclaims accusing National Indemnity Co. of fraud are not barred by res judicata because the issues were never resolved in past arbitrations, therefore NICO is not entitled to summary judgment on the counterclaims. National Indemnity Co. v. Greenwich Street Investments II, No. 08-4067, S.D. N.Y.).

The counterclaims, filed in the U.S. District Court for the Southern District of New York, say NICO entered into a secret "side agreement" with a runoff manager to fraudulently gain control of the liabilities of Seaton Insurance Co. and Stonewall Insurance Co. in order to profit …