4th Circuit Hears $524M Guaranty Case Involving Reinsurance Agreement

(January 31, 2024, 3:42 PM EST) -- RICHMOND, Va. — In oral argument before a Fourth Circuit U.S. Court of Appeals panel, the issuer of a guaranty contended that a judgment against him enforcing an arbitration award for $524 million plus interest should be overturned, and a Puerto Rico-based insurer countered that the terms of the agreements in question and res judicata both support affirmation....