STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Remands Reinsurance Action, Says Amended Pleading Does Not Satisfy ‘Revival Exception’
September 7, 2016
NEW YORK — A New York federal judge has remanded a lawsuit in which R&Q Reinsurance Co. seeks rescission of two facultative certificates issued to Allianz Insurance Co., holding that R&Q’s amended complaint does not dramatically transform the nature of the dispute and therefore Allianz’s notice of removal was untimely.
In a Sept. 6 order, Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York held that New York’s “revival exception” does not apply because the new claims asserted by R&Q in the FAC do not “change the character of the litigation so as ...
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