STORY FROM: Reinsurance & Arbitration

Insurer in Rehabilitation Seeks Summary Judgment on Hedge Fund Receiver’s Claims

NEW YORK — Senior Health Insurance Company of Pennsylvania has moved for summary judgment on fraudulent conveyance claims brought by the receiver of the Platinum Partners Credit Opportunities Master Fund, arguing that she lacks standing to assert the claims on behalf of two related “feeder funds” because they are not “creditors” of the PPCO Master Fund.

In a Feb. 14 motion filed in the U.S. District Court for the Southern District of New York, SHIP further contends that the receiver’s fraudulent conveyance claims fail because the PPCO Master Fund was solvent and had adequate capital at all relevant times.

SHIP, ...

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