NICO Says Veil-Piercing Claims Should Survive Motions to Dismiss

NEW YORK - National Indemnity Co. is urging a New York federal judge to allow breach of fiduciary duty claims to proceed against the owners of Seaton Insurance Co. and Stonewall Insurance Co., arguing that the complaint adequately pleads theories of veil-piercing and assumption. National Indemnity Co. v. Greenwich Street Investments II, No. 08-4067 (S.D. N.Y.).

In a suit filed in the U.S. District Court for the Southern District of New York, NICO accuses Dukes Place Holdings, GCS Partners and Greenwich Street Investments of scheming to transfer its claims-administration rights to Castlewood Holdings (US) Inc. (now Enstar (US) Inc.). In …