Judge Dismisses Party From Runoff Insurer’s Third-Party Aiding, Abetting Claims

Mealey's (January 16, 2020, 2:47 PM EST) -- NEW YORK — A New York federal judge on Jan. 13 dismissed a third-party defendant from a runoff insurer’s allegations of aiding and abetting in a Ponzi-like scheme where fraudulent misrepresentations were made to gain investment control over $320 million of the runoff insurer’s reserves (In re Platinum-Beechwood litigation, No. 18-6658; Senior Health Insurance Company of Pennsylvania v. PB Investment Holdings Ltd., et al., No. 18-12018, S.D. N.Y.)....