Parties Agree to Dismissal of Breach of Contract Claim in $4.6 Million Promissory Note Action

NEW YORK — The parties in an action involving a $4.6 million promissory note executed as part of a reinsurance arrangement for a book of disability income business have agreed to dismissal of a breach of contract claim without prejudice, with leave to refile the claim in a Vermont court.

In an April 14 status report filed in the U.S. District Court for the Southern District of New York, the parties stipulated that the forum selection clause in a shareholder agreement between Vista Life & Casualty Reinsurance Co., its incorporated shell, and Antarctica Legacy governs only the breach of contract …