Bank, Finance Company Seek Dismissal Of Runoff Insurer’s Aiding, Abetting Claims

Mealey's (November 19, 2019, 1:56 PM EST) -- NEW YORK — An investment bank and a financial services company argue in a Nov. 18 reply brief to a New York federal court that despite 18 months and the benefit of discovery, a runoff insurer fails to allege that two valuation reports prepared by them “substantially assisted” an alleged fraud or caused damage to the runoff insurer in the investment of $320 million in a failed Ponzi scheme (In re Platinum-Beechwood Litigation, No. 18-6658, Senior Health Insurance Company of Pennsylvania v. Lincoln International LLC, et al., No. 19-07137, S.D. N.Y.)....