Specialty Reinsurer Opposes Motion To Strike $15M Bond In Bid To Arbitrate Dispute

Mealey's (July 11, 2017, 1:50 PM EDT) -- NEW YORK — A foreign specialty reinsurer asked a New York federal bankruptcy court on July 6 not to strike a $15 million posted bond at the request of a defunct brokerage company as the bond was required before the court’s consideration of a request to arbitrate the coverage dispute in Bermuda (In re:  MF Global Holdings Ltd., et al. MF Global Holdings Ltd. as plan administrator, and MF Global Assigned Assets LLC v. Allied World Assurance Company Ltd., et al., Chapter 11 No. 11-15059, Adv. Proc. No. 16-01251, S.D. N.Y. Bkcy.)....