STORY FROM: Reinsurance & Arbitration
D.C. Federal Judge Refuses to Reconsider Order Allowing Lawsuit to Proceed Against Reinsurers
January 18, 2019
WASHINGTON, D.C. — A District of Columbia federal judge will not reconsider his decision allowing Vantage Commodities Financial Services Inc. to proceed with its claims against three reinsurers in a lawsuit in which it seeks payment of a $26 million judgment.
On Jan. 17, Judge Trevor N. McFadden of the U.S. District Court for the District of Columbia said his order did not create new law about “which entitles have the ability to bind a reinsurer or have standing in a litigation to enforce a contract in violation of an arbitration provision.” Rather, the court made a “narrow determination” that ...
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