STORY FROM: Reinsurance & Arbitration

Reinsurer Asks Ill. Federal Judge to Impose Sanctions Against Legion Liquidator

CHICAGO — A reinsurer has asked an Illinois federal judge to levy sanctions against the liquidator of Legion Indemnity Co., arguing that her motion to vacate an arbitration award of $422,680 in attorneys’ fees to the reinsurer has no reasonable chance of success.

In a July 8 motion filed before Judge Manish Shah of the U.S. District Court for the Northern District of Illinois, Catalina Holdings (Bermuda) Limited contends that “the liquidator’s mere dissatisfaction with the results, without more, does not entitle it her judicial relief in the form of a reversal or modification of the award.”

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