Runoff Insurer Dismisses Appeal To 2nd Circuit Of Orders On Fee Advancements

Mealey's (January 30, 2020, 10:34 AM EST) -- NEW YORK — A runoff insurer on Jan. 22 dismissed its appeal to the Second Circuit U.S. Court of Appeals regarding four orders over the 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 (B Asset Manager L.P., et al. v. Senior Health Insurance Company of Pennsylvania, No. 19-4239, 2nd Cir.)....