STORY FROM: Reinsurance & Arbitration

N.Y. Federal Judge Confirms Arbitration Awards in Long Running Retrocessional Dispute

NEW YORK — A New York federal judge has confirmed three arbitration awards issued in a long running retrocessional dispute between National Indemnity Co. and a Brazilian reinsurer, ruling that NICO’s party arbitrator did not act with evident partiality and that the awards were not procured by “undue means.”

In a March 10 order, Judge Naomi R. Buchwald of the U.S. District Court for the Southern District of New York further ruled that the arbitrators had the power to issue the three awards.

Companhia Siderurgica Nacional is a Brazilian mining and steelmaking conglomerate that owns and operates the TECAR coal ...

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