STORY FROM: Reinsurance & Arbitration
Ill. Federal Judge Grants Pine Top’s Motion to Remand Reinsurance Action to Cook County
December 16, 2015
CHICAGO — A Chicago federal judge has granted Pine Top Receivables of Illinois’ motion to remand a reinsurance action, ruling that the service of suit clause in the agreement at issue obligates Transfercom Ltd. to abide by the cedent’s choice of forum.
In a Dec. 14 order, Judge Amy St. Eve of the U.S. District Court for the Northern District of Illinois held that the service of suit clause constitutes a “clear and unequivocal waiver” and that allowing removal under such circumstances would be to ignore its “plain and ordinary meaning.”
Pine Top Insurance Co. engaged in many reinsurance transactions ...
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