STORY FROM: Reinsurance & Arbitration
Judge Recommends Allowing Jurisdictional Discovery in $934 Million Reinsurance Case
June 29, 2020
WASHINGTON, D.C. — A federal magistrate judge has recommended plaintiffs be allowed to conduct jurisdictional discovery in an action in which they seek $934 million in withdrawal liability payments from offshore reinsurer Cardem Insurance Company Ltd.
On June 22, Magistrate Judge G. Michael Harvey of the U.S. District Court for the District of Columbia agreed that such discovery may allow plaintiffs to supplement their existing allegations that Cardem has sufficient contacts within the United States to permit the exercise of jurisdiction over the captive insurer.
Walter Energy Inc. and its subsidiary, Jim Walter Resources Inc., operated a business that performed ...
Report & Recommendation