Entities: Claims Arising From Trust Preferred Securities Are Part Of Insurer's Liquidation

Mealey's (September 24, 2020, 7:18 AM EDT) -- SAN FRANCISCO — Defendants in a New York action concerning trust preferred securities (TruPS) argue in an Aug. 28 response brief that a lower court properly enjoined the New York plaintiffs' claims potentially worth hundreds of millions of dollars because the claims were based on damages to an insolvent insurer and, thus, property to the insurer's estate and liquidation proceeding (Dave Jones v. CastlePoint National Insurance Co., No. A158646, Calif. App., 1st Dist., Div. 5)....