Mass. Federal Judge Asked to Continue Stay of Counterclaims Against Insolvent Reinsurer

BOSTON — A Massachusetts federal judge has been asked to continue a stay of counterclaims asserted by Lamorak Insurance Co. against an English reinsurer in a reinsurance coverage action due to the reinsurer’s pending bankruptcy proceedings.

In a Sept. 30 motion, plaintiff Stronghold Insurance Company Ltd., a London Market Company Reinsurer, and defendant Lamorak explained that the administration proceedings remain pending in England and the bankruptcy stay ordered by the U.S. Bankruptcy Court for the Southern District of New York remains in effect.

Accordingly, the parties respectfully request that this Court continue the stay of all proceedings involving the claims …