STORY FROM: Reinsurance & Arbitration

9th Cir. Dismisses Appeal in Odyssey Re Fraud Action in Wake of Settlement

SAN FRANCISCO — The Ninth Circuit U.S. Court of Appeals has dismissed an appeal challenging an order that nearly $1 million in funds held in a court registry belongs to Odyssey Reinsurance Co. pursuant to a 2015 judgment issued against Cal-Regent Insurance Services.

The July 31 order was issued after Odyssey Re settled its claims against Dostalik and his company, Claim Technology Services Corp. (CTS). The claims accused the two of conspiring with Cal-Regent’s former owners to strip Cal-Regent of its assets to avoid paying a $3.2 million court judgment.

Cal-Regent was an insurance agency that underwrote certain insurance risks ...

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