STORY FROM: Reinsurance & Arbitration

Tryg Moves for Default Judgment Against Third-Party Defendant Cerberus in Reinsurance Dispute

NEW YORK — In a dispute over reinsurance proceeds allegedly owed to the estate of The Home Insurance Co., reinsurer Tryg Forsikring A/S has moved for a default judgment against Cerberus Holding Company LLC, arguing that Cerberus has failed to respond to its third-party complaint.

In a March 16 motion filed in the U.S. District Court for the Southern District of New York, Tryg says Cerberus has failed to respond to allegations that it knew of, yet failed to inform Tryg of the Home liquidator’s claim and failed to provide it with accurate information and documents concerning the litigation.

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