STORY FROM: Reinsurance & Arbitration
Aiding, Abetting Claims Proceed Against Financial Services Provider in Platinum-Beechwood Case
December 11, 2019
NEW YORK — A New York federal judge has ruled that aiding and abetting claims may proceed against two valuation companies accused of providing a runoff insurer with false valuation reports, causing it to invest $320 million in the troubled Platinum Partners hedge fund.
However, in the Dec. 5 order, Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York dismissed Senior Health Insurance Company of Pennsylvania’s civil conspiracy, contribution and indemnity, and unjust enrichment claims against Lincoln International LLC and Lincoln Partners Advisors LLC.
SHIP stopped writing new insurance policies in 2003, ...