Insolvent Insurer Asserts Defenses Against Contractual Indemnification Claim

Mealey's (November 29, 2017, 10:53 AM EST) -- COLUMBIA, S.C. — An insolvent insurer argues in a Nov. 22 reply brief to the South Carolina federal court that a bank is barred from asserting its contractual indemnification counterclaim in a dispute over the bank’s role as trustee of a reinsurance trust with an insolvent insurer because the bank has no contractual right (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C.)....