STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Refuses to Dismiss Arbitral Summonses in Beechwood Re Fraud Case
January 21, 2019
NEW YORK — A New York federal judge will not reconsider his refusal to dismiss summonses issued by an arbitration panel in a fraud case involving Beechwood Re and failed hedge fund Platinum Partners, ruling that the court has jurisdiction to enforce the summonses.
In a Jan. 18 order, Judge Vincent Briccetti of the U.S. District Court for the Southern District of New York said the citizenship of the parties to the instant case provide the court with jurisdiction.
In the arbitration, Washington National Insurance Co. and its affiliate (Washington National, collectively) allege they were fraudulently induced to enter ...
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