Judge Upholds Denial Of Advancement Of Expenses In Runoff Insurer’s Misuse Case

Mealey's (July 11, 2019, 2:27 PM EDT) -- NEW YORK — In a runoff insurer’s case over allegations of misuse of $320 million by affiliates of a failed Ponzi scheme, a New York federal judge on July 8 denied reconsideration of his ruling denying summary judgment to the affiliates on their counterclaim for advancement of expenses (In re:  Platinum-Beechwood Litigation; Senior Health Insurance Company of Pennsylvania v. Beechwood Re Ltd., et al., No. 18-6658, David Levy v. Senior Health Insurance Company of Pennsylvania, No. 19-3211, and B Asset Manager L.P., et al. v. Senior Health Insurance Company of Pennsylvania, No. 19-4487, S.D. N.Y., 2019 U.S. Dist. LEXIS 112742)....