Insurer, Reinsurer, Oppose Motions to Dismiss in $4.6 Million Promissory Note Action

NEW YORK — An insurer and a reinsurer have opposed a motion to dismiss filed by two investors in a lawsuit involving a $4.6 million promissory note that was executed as part of a reinsurance arrangement, arguing there are factual disputes as to whether the promissory note can be enforced.

In an April 26 opposition filed in the U.S. District Court for the Southern District of New York, Pan-American Life Insurance Co. and Vista Life & Casualty Reinsurance Co. further argued that they have adequately pled claims for fraud and negligent misrepresentation against the investors, Antarctica Capital Management LLC …