STORY FROM: Reinsurance & Arbitration
Applied Underwriters Moves for Summary Judgment in $1.5 Million Promissory Note Dispute
January 27, 2017
OMAHA, Neb. — Applied Underwriters Inc. (AUI) has moved for summary judgment in a dispute over whether Top’s Personnel Inc. owes it $152,616.35 under a promissory note executed pursuant to a reinsurance participation agreement, arguing that no questions of fact exist in the case.
In a Jan. 25 brief filed in the U.S. District Court for the District of Nebraska, AUI contends that Top’s has admitted that it signed the promissory note and has failed to establish a defense, as required under Nebraska law.
Applied Underwriters Captive Risk Assurance Company Inc. (ACURA) and Top's entered into a reinsurance participation agreement ...
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Motion for Summary Judgment