Federal Judge Reconsiders Supersedeas Bond, Orders Runoff Insurer To Pay $467,795.32

Mealey's (November 22, 2019, 11:15 AM EST) -- NEW YORK — A federal judge in New York on Nov. 19 ordered a runoff insurer to pay $467,795.32 to plaintiffs after reconsidering a previous order and set forth the procedures for advancement of fees and expenses under investment management agreements (IMAs) for third-party actions arising out of the runoff insurer’s initial fraud lawsuit over the mismanagement and misuse of $320 million (In re:  Platinum-Beechwood Litigation, No. 18-6658, B Asset Manager L.P., et al. v. Senior Health Insurance Company of Pennsylvania, No. 19-4487, S.D. N.Y.)....