STORY FROM: Reinsurance & Arbitration
NEM Re Asks N.Y. Federal Judge to Reconsider Dismissal of its Action Against Fortress Re
April 14, 2016
NEW YORK — NEM Re Receivables LLC has asked a New York federal judge to reconsider his dismissal of its action seeking $145,000 from the manager of a reinsurance pool, asserting that it can present evidence showing that the statute of limitations has not expired.
In an April 8 motion filed in the U.S. District Court for the Southern District of New York, NEM Re asked Judge Victor Marrero to allow it the opportunity to present such evidence.
Fortress Re managed a reinsurance pool in which NEM Re’s predecessor, Federated Reinsurance Co., participated. In 1990, Federated was ordered into liquidation ...
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