Please join the U.S. Reinsurance Under 40s Group tonight for a summary happy hour!  The event will take place from 5:30-8:00 pm at The Frying Pan in New York City, which is located at Pier 66, Maritime, at the intersection of 26th Street and the Westside Highway.  We have a private space, and expect an excellent turn out at this great venue.  So please come join us for this fabulous networking and socializing event.  You can still RSVP at the Group’s website — reunder40s.org.  We look forward to seeing you there!!! …
Read More Re Under 40s Happy Hour Tonight!!

In the case of W v Veolia Environmental Services (UK) PLC [2011] EWHC 2020 (QB), Judge Mackie QC was asked to consider the validity of a claim for damages. The Claimant, W, owned a 21 year old Bentley (worth approximately £16,000) which was hit by a refuse truck owned by the Defendant, Veolia Environmental Services (UK) PLC (Veolia). …
Read More UK: High Court Finds Car Hire Agreement is Valid Insurance Agreement

The Massachusetts Court of Appeals recently issued a decision on the parameters of additional insured coverage called Suffolk Construction Corp. v. Illinois Union Insurance Company, No. 10-P-1336 (Mass. App. Ct. Aug. 15, 2011).  A copy of the decision can be found here by searching for “Appeals Court” and writing “08/15/2011” in the date field. …
Read More Massachusetts Appeals Court Denies “Additional Insured” Status in Construction Injury Case

The law firms of Edwards Angell Palmer & Dodge LLP and Wildman, Harrold, Allen & Dixon LLP today announced that they will merge on October 1, 2011 (you can read the press release here).   The new firm, with 13 offices and 650 lawyers, will be known as Edwards Wildman Palmer LLP. …
Read More Edwards Angell Palmer & Dodge and Wildman, Harrold, Allen & Dixon LLP Announce Merger

On Wednesday, August 17, the U.S. Reinsurance Under 40s Group will be hosting a happy hour from 5:30-8:00 pm at The Frying Pan, located at Pier 66, Maritime, at the intersection of 26th Street and the Westside Highway in NY, NY. …
Read More Re Under 40s To Host Happy Hour at Frying Pan in NYC

In New Cap Reinsurance Corporation Ltd & Anr v AE Grant & Ors, the Court of Appeal has upheld a first instance decision that section 426 of the Insolvency Act (IA) can be used to enforce a foreign monetary judgment in insolvency proceedings. However, the Court acknowledged that where there exists a statutory framework for the enforcement of foreign judgments, in this case enforcement pursuant to the Foreign Judgments (Reciprocal Enforcement) Act 1933 (the 1933 Act), then enforcement under s.426 of the IA must follow the requirements of the 1933 Act. …
Read More UK: Court of Appeal Upholds that Assistance can be Given to Australian Court

Recently, the U.S. Department of Health and Human Services (“HHS”) rejected North Dakota’s request for a waiver of the Patient Protection and Affordable Care Act (PPACA) requirement that individual health insurance plan issuers spend at least 80% of premiums on medical care or quality improvements.  As we previously reported, under the PPACA, the medical loss ratio (MLR) requirement is 80% for individual and small group plans and 85% for large group plans. …
Read More North Dakota’s Request for Medical Loss Ratio Waiver Rejected; Kentucky’s and Iowa’s Waiver Requests Approved

In the recent decision of Meritz Fire & Marine Insurance Co Ltd v Jan De Nul Nv & Anor [2011] EWCA Civ 827, the Court of Appeal dismissed the appeal by Meritz of the earlier High Court’s decision, previously reported here, that Meritz was liable under advance payment guarantees (APGs) it had issued in respect of three shipbuilding contracts (Contracts) to the respondent Buyers, despite the fact that the Contracts had been novated to a new company. …
Read More UK: Court of Appeal Considers the Effect of a Novation of a Contract on Advance Payment Guarantees

In PT Thiess Contractors Indonesia v PT Kaltim Prima Coal and another [2011] EWHC 1842, the Commercial Court refused to grant a stay where arbitration proceedings were ongoing in relation to disputes arising out of a related and overlapping contract. …
Read More UK: Commercial Court Rules on Competing Dispute Resolution Clauses

The litigation in England concerning the validity of the “flip” provisions in the Lehman credit default swap transactions, under which the priority changed from swap counterparty (ie Lehman) priority to noteholder priority on the insolvency of the Lehman entities (litigation which began under the title Perpetual Trustee Company Limited v BNY Corporate Trustee Services Limited), has finally come to an end with a Supreme Court decision under the title Belmont Park Investment PTY Limited v BNY Corporate Trustees Services Limited and Lehman Brothers Special Financing Inc (2011 UKSC 38). …
Read More UK: Supreme Court Decision on the Lehman Credit Default Swap “Flip” Provisions