Cravens Seeks Confirmation of $412,080 Award

NEW YORK - Cravens Dargan & Co. has asked a federal judge to confirm a 2010 arbitration award requiring Tokio Re Corp. to pay $412,080 in reinsurance proceeds. Cravens Dargan & Co. v. Tokio Re Corp., No. 11-587 (S.D. N.Y.).

The Jan. 28 petition is before Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York.

Cravens and Tokio Re were parties to four reinsurance contracts, each of which contained a clause requiring binding arbitration of all disputes between the parties.

A dispute arose concerning sums billed under the contracts and in April 2008, …