Judge: Claims Of Assignee Of Reinsurance From Insolvent Insurer Are Untimely
(June 2, 2016, 10:40 AM EDT) -- CHICAGO — A federal judge in Illinois on May 31 held that the assignee of certain reinsurance recoverables’ breach of contract claims against a Brazilian reinsurer are untimely under Illinois law (Pine Top Receivables of Illinois, LLC v. Banco De Seguros Del Estado, No. 12-cv-06357, N.D. Ill.; 2016 U.S. Dist. LEXIS 70462).
(Opinion available. Document #12-160603-015Z.)
Pine Top Receivables of Illinois LLC (PTRIL), through a purchase agreement in 2010, became the assignee of all of the rights, title and interest of Pine Top Insurance Co. arising...