On August 14, 2015, a federal district court in New York entered an order allowing a petition to confirm an arbitration award to be filed in redacted form with the arbitration award to be filed under seal. The case is pending between the Century Indemnity Company and the Global Reinsurance Corporation, U.S. Branch. The underlying arbitral award deals with a reinsurance dispute relating to underlying policies issued by Century to Caterpillar Tractor Company during the late 1960s and early 1970s and claims under the policies for asbestos products personal injury lawsuits. According to Century’s Petition, Century and Global had an agreement that certain arbitration information be kept confidential. The most recent arbitration award confirmation is part of ongoing claims between Century and Global on reinsurance policies to underlying policies to manufacturers such as Caterpillar for ongoing underlying claims, such as the asbestos claims here. We most recently reported on these cases on July 21, 2015. Century Indemnity Co. v. Global Reinsurance Corp. of America, Case No. 15-cv-6426 (USDC S.D.N.Y. Aug. 14, 2015).
This post written by Zach Ludens.
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