N.J. Federal Court Declines to Intervene in Asbestos Reinsurance Dispute

TRENTON, N.J. -- A federal court judge has opted not to intervene in an asbestos-related reinsurance dispute, noting that the petitioner has already obtained the relief sought in the amended complaint. Everest Reinsurance Co. v. Century Indemnity Co., No. 11-2789 (D. N.J.).

In the Oct. 31 opinion, the U.S. District Court for the District of New Jersey found that granting relief beyond that requested in the original complaint would be inappropriate and prejudicial to the defendant.

According to the court, Everest Reinsurance Co. and Century Indemnity Co. entered into an agreement in which Everest agreed to reinsure certain liability …