Stay Of Appeal Should Remain In Effect, Bermuda Reinsurer Tells 2nd Circuit

(June 30, 2021, 9:41 AM EDT) -- NEW YORK — In a June 18 status letter, a Bermuda reinsurer notified the Second Circuit U.S. Court of Appeals that its appeal related to the confirmation of a $524 million arbitration award issued in favor of a Puerto Rico life insurer in a dispute over alleged improper asset divestments for a reinsurance trust should remain stayed because a temporary restraining order in the reinsurer’s bankruptcy proceeding remains in effect....