STORY FROM: Reinsurance & Arbitration

Odyssey Re Seeks Disbursement of Registry Funds in Calif. Fraud Case

SAN DIEGO — Odyssey Reinsurance Co. has asked a California federal judge to order disbursement of $958,017.66 in registry funds in a dispute in which the reinsurer seeks payment of a $3.2 million judgment from the former owners of Cal-Regent Services Corp.

In a June 14 motion filed in the U.S. District Court for the Southern District of California, Odyssey argued that while defendants are appealing Judge Barry T. Moskowitz’s March 14 order directing the turnover of those funds in partial satisfaction of a judgment against Pacific Brokers Insurance Services, the case is no longer stayed.

Cal-Regent was an insurance ...

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