Nonparties Challenge Stay Of Case Based On Insurer’s Liquidation

Mealey's (May 21, 2020, 7:18 AM EDT) -- SAN FRANCISCO — Plaintiffs in a New York action over trust preferred securities (TruPS) in an April 9 appellant brief filed in a California appeals court challenge a trial court’s “erroneous deference” to stay their dispute in light of an insurer’s liquidation proceeding, saying the trial court “has undermined valid claims potentially worth hundreds of millions of dollars” (Dave Jones v. CastlePoint National Insurance Co., No. A158646, Calif. App., 1st Dist., Div. 5)....