Reinsurance Pool Agent: Statute Of Limitations Has Passed On Assignee’s Claims
(August 27, 2015, 10:34 AM EDT) -- NEW YORK — A reinsurance pool agent and manager argued in a federal court in New York on Aug. 11 that the statute of limitations applicable to the instant suit accrues when the assignee of certain reinsurance receivables first had the legal right to demand payment and not, as the assignee contends, when a fiduciary communicates its repudiation of its trust (NEM Re Receivables LLC v. Fortress Re Inc., No. 15-cv-03875, S.D. N.Y.).
(Fortress Re’s reply in support of motion to dismiss complaint available. Document #12-150821-005B.)...