Plaintiffs Must Prove Jurisdiction in $4.6 Million Promissory Note Action, N.Y. Federal Judge Rules
November 24, 2020
- Order to Show Cause
NEW YORK — A New York federal judge has ordered an insurer and a reinsurer to show cause why their action seeking to enforce an investor’s $4.6 million promissory note that was executed as part of a reinsurance arrangement for a book of disability income business should not be dismissed for lack of diversity jurisdiction.
On Nov. 12, Judge Andrew L. Carter Jr. of the U.S. District Court for the Southern District of New York noted the complaint alleges the plaintiffs are citizens of Louisiana, Vermont and Delaware. However, the complaint alleges only that none of the members or partners …
- Jones Walker LLP