Ill. Federal Judge Dismisses Pine Top Receivables’ Action Against Brazilian Reinsurer

Dismissal

Ill. Federal Judge Dismisses Pine Top Receivables’ Action Against Brazilian Reinsurer

CHICAGO — An Illinois judge has dismissed without prejudice an action in which Pine Top Receivables of Illinois (PTRIL) sought $200,984 in reinsurance proceeds from a Brazilian reinsurer under two quota share treaties that were in effect in the early 1980s.

In the April 11 order, Judge John R. Blake of the U.S. District Court for the Eastern District of Illinois explained that if the action is not reinstated by June 13, the dismissal will convert to one with prejudice.

Companhia Bandeirente de Seguros Gerais engaged in transactions …