Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Matter of Platinum-Beechwood Litigation

N.Y., Indiana Security Laws Apply But Arbitrator Must Decide if Insurers' Motion Barred

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ADDITIONAL CASESMelanie L. Cyganowski et al., Plaintiffs v. Beechwood re Ltd. et al., Defendants; 18-cv-12018Washington National Insurance Company and Bankers Conseco Life Insurance Company, Cross-Claim Plaintiffs v. Beechwood re Ltd. et al., Cross-Claim Defendants

MEMORANDUM ORDER The instant motion arises out of cross-claims filed by defendants Bankers Conseco Life Insurance Company (“BCLIC”) and Washington National Insurance Company (“WNIC”) against defendant Beechwood Re Ltd. (“Beechwood”). BCLIC and WNIC ask this Court to order Beechwood to post $250 million in security under New York and Indiana security statutes, or to strike Beechwood’s pleadings and enter default judgment against it. Because the parties dispute whether BCLIC and WNIC’s motion is precluded by prior orders in a pending arbitration between them, and because the Court concludes that the arbitration panel must resolve this dispute in the first instance, the motion is denied.BackgroundMuch of the background to this case has been set forth in various Opinions and Orders of this Court, familiarity with which is here assumed. As relevant here, BCLIC and WNIC are insurance companies that invested nearly $600 million with Beechwood pursuant to Reinsurance Agreements signed in February 2014. See Answer, Cross-Claims and Third-Party Complaint of Bankers Conseco Life Insurance Company and Washington National Insurance Company

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
New York Legal Awards 2024
September 05, 2024
New York, NY

The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.


Learn More
BenefitsPRO Broker Expo 2024
April 29, 2024 - May 01, 2024
Aurora, CO

The premier educational and networking event for employee benefits brokers and agents.


Learn More
Pennsylvania Legal Awards 2024
May 15, 2024
Philadelphia, PA

The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.


Learn More
Go to Events Go to Webcasts
Senior In-House Contracts Administrator

A large and well-established Tampa company is seeking a contracts administrator to support the company's in-house attorney and manage a wide...


Apply Now ›
COMMERCIAL FINANCE ATTORNEY - STAMFORD, HARTFORD OR NEW HAVEN OFFICES

We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should ...


Apply Now ›
CORPORATE ATTORNEY (8+ Years) - REMOTE, CT

We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat...


Apply Now ›
Go to Lawjobs
Clifford Law Offices, PC
04/29/2024
The National Law Journal

Professional Announcement


View Announcement ›
MELICK & PORTER, LLP
04/15/2024
Connecticut Law Tribune

MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS


View Announcement ›
Apruzzese, McDermott, Mastro & Murphy, P.C.
04/11/2024
New Jersey Law Journal

Professional Announcement


View Announcement ›
Go to Professional Announcements