Insurers Dismiss Third-Party RICO, Fraud Claims In Case Over Hedge Fund Scheme

Mealey's (October 28, 2019, 11:31 AM EDT) -- NEW YORK — Insurers tell a New York federal judge in an Oct. 23 stipulation that they are dismissing their third-party claims, which include fraudulent inducement and violations of the Racketeer Influenced and Corrupt Organizations Act, against certain third-party defendants in a lawsuit originally filed by a receiver seeking redress for damages arising out of a “massive fraudulent scheme” involving hedge funds (In re Platinum-Beechwood Litigation, No. 18-6658, Melanie L. Cyganowski, et al. v. Beechwood Re Ltd., et al., No. 18-12018; Washington National Insurance Co., et al. v. Mark Nordlicht, et al., No. 18-12018, S.D. N.Y.)....