STORY FROM: Reinsurance & Arbitration
Lloyd's Urges Arbitration Of $1.9M Battle With B.D. Cooke
May 12, 2008
NEW YORK - Certain Underwriters at Lloyd's London have asked a New York federal judge to compel arbitration of its dispute with B.D. Cooke & Partners Ltd. over $1.9 million in reinsurance recoverables. B.D. Cooke & Partners Ltd. v. Certain Underwriters at Lloyd's London, No. 1:08-cv-03435 (S.D. N.Y.).
Lloyds' motion, pending in the U.S. District Court for the Southern District of New York, is based upon the "broad and explicit" arbitration agreement that exists in most of the excess reinsurance contracts at issue.
B.D. Cooke, however, is urging the judge to remand the case to New York County ...