Agent: Statute Of Limitations Bars Payment Claim By Reinsurer’s Assignee

Mealey's (July 30, 2015, 12:56 PM EDT) -- NEW YORK — A reinsurance pool agent and manager told a federal court in New York on July 27 that the assignee of an insolvent reinsurer’s reinsurance accounts receivables’ claim for payment is barred by New York’s breach of contract statute of limitations (NEM Re Receivables LLC v. Fortress Re Inc., No. 15-cv-03875, S.D. N.Y.).

(Fortress Re’s brief in support of its motion to dismiss the complaint available. Document #10-150828-009B.)

NEM Re Receivables LLC sued Fortress Re Inc. in the U.S. District Court for the Southern...
To view the full article, register now.