STORY FROM: Reinsurance & Arbitration
N.Y. Appellate Court Upholds Denial of Motion to Change Venue in Reinsurance Allocation Dispute
December 27, 2016
NEW YORK — A New York appellate court has upheld denial of defendants’ motion to change venue in a reinsurance dispute involving the reasonableness of U.S. Fidelity & Guaranty Co.’s allocation of its asbestos settlement to one policy, ruling that the motion is untimely and not backed by sufficient factual evidence.
On Dec. 22, the New York Appellate Division, 1st Department, explained that the motion was made on the eve of trial and there is a lack of factual evidence demonstrating that there is a strong possibility that an impartial trial cannot be had in the venued county.
In the ...
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