STORY FROM: Reinsurance & Arbitration

Insurer Opposes Financial Advisors’ Motion for Summary Judgment in Beechwood Re Action

NEW YORK — Senior Health Insurance Company of Pennsylvania has opposed a motion for summary judgment filed by two financial advisors on claims accusing them of providing the insurer with false valuation reports, causing it to sink $320 million in the troubled Platinum Partners hedge fund.

In a March 6 motion filed before Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York, SHIP contends that Lincoln International LLC and Lincoln Partners Advisors LLC allowed it to enter into investment management agreements with Beechwood Re Ltd. while concealing the fact that Beechwood and Platinum ...

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