STORY FROM: Reinsurance & Arbitration
NICO Asks N.Y. Federal Judge to Enforce Confirmation of Awards, Seeks $468,841 in Attorneys’ Fees, Costs
April 12, 2016
NEW YORK — National Indemnity Co. has asked a New York federal judge to enforce her earlier confirmation of three arbitration awards issued in a reinsurance dispute with IRB Brasil Resseguros S.A., arguing that IRB has refused to reimburse NICO attorneys’ fees and costs as required by the court order.
In an April 5 motion and letter, NICO asserts that in the confirmation order, Judge Naomi R. Buchwald of the U.S. District Court for the Southern District of New York declared that IRB “must hold harmless and indemnify NICO for fees and expenses incurred by NICO . . . .” ...
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