Lawsuit Arising from Reinsurance Contract, Stock Purchase Agreement Proceeds in Mass.
September 6, 2022
BOSTON — A Massachusetts federal judge has refused to reconsider allowing a lawsuit arising from a reinsurance contract and stock purchase agreement between SPARTA Insurance Co. and Pennsylvania General Insurance Co. (PGIC) to proceed.
In an Aug. 30 docket note, Chief Judge F. Dennis Saylor IV of the U.S. District Court for the District of Massachusetts let stand his earlier ruling that SPARTA’s amended complaint states a claim and is ripe for adjudication.
In June 2005, PGIC and American Employers Insurance Co. (AEIC) entered into a reinsurance agreement, under which AEIC’s liabilities were transferred and assumed by PGIC.
SPARTA and …
- Boies Schiller Flexner LLP
- Cohen Kinne Valicenti & Cook LLP
- Skadden Arps Slate Meagher & Flom LLP