STORY FROM: Reinsurance & Arbitration

Ill. Federal Judge Thwarts Pine Top Receivables’ Efforts to Challenge Summary Judgment Award to Banco

CHICAGO — An Illinois federal judge has thwarted Pine Top Receivables of Illinois’ efforts to challenge an award of summary judgment to Banco de Seguros del Estado in a dispute over $2.26 million in reinsurance proceeds, ruling that it would be unduly prejudicial to Banco to allow PTRIL to amend its complaint at this point in the litigation.

On Aug. 30, Judge Marvin Aspen of the U.S. District Court for the Northern District of Illinois explained that PTRIL’s motion to amend fails because it does not seek to correct the court’s error, but rather its own error.

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