STORY FROM: Reinsurance & Arbitration
Celanese Drops Interference With Contract Action Against Resolute Management
January 10, 2017
DALLAS — According to a recent filing in Texas federal court, Celanese Corp. has agreed to dismissal of its lawsuit accusing third-party administrator Resolute Management Corp. of wrongly denying coverage for asbestos lawsuits in order to limit the reinsurance liability of its parent company, National Indemnity Co.
In a Jan. 9 stipulation filed in the U.S. District Court for the Northern District of Texas, the parties agreed to dismissal of Celanese’s interference with contract and declaratory relief claims against Resolute.
OneBeacon’s predecessor issued primary comprehensive general liability policies to Celanese between 1965 and 1973. NICO has issued a finite reinsurance ...
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