STORY FROM: Reinsurance & Arbitration
Pine Top Receivables Collaterally Estopped from Demanding Arbitration, Ill. Appeals Court Rules
April 4, 2017
CHICAGO — Pine Top Receivables of Illinois is collaterally estopped from seeking arbitration of a reinsurance dispute by a recent 7th Circuit opinion in a similar case, an Illinois appellate court has ruled.
On March 31, the Illinois Court of Appeals, 1st District, explained that the 7th Circuit had resolved the merits of the issue of whether PTRIL was entitled to demand arbitration of claims assigned to it by the liquidator.
Pine Top Insurance Co. engaged in many reinsurance transactions and acted as cedent in many treaties. In 1987, Pine Top was ordered into liquidation by the Cook County (Ill.) ...
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