Judge Refuses To Dismiss Insurer’s Officer From Rehabilitator’s Aiding, Abetting Suit

Mealey's (March 18, 2021, 3:08 PM EDT) -- BATON ROUGE, La. —A judge held on March 2 that a Louisiana federal court may exercise personal jurisdiction over an insolvent insurer’s CEO but not the banking defendants in a rehabilitator’s suit for aiding and abetting fraud and breach of fiduciary duty as to loans that misled state insurance regulators on the insurer’s finances, finding that transferring the lawsuit to the U.S. District Court for the Middle District of Florida instead of dismissing the banking defendants without prejudice is the most appropriate remedy....