Reinsurer’s Claims Precluded By Prior Arbitration Award

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When parties participate in an arbitration and obtain a final award, usually that is the end of the dispute. But sometimes there are collateral agreements involved and the losing party may try to bring litigation based on those collateral agreements to obtain a different form of relief. In a recent case in New York involving protected cell reinsurer, a complex reinsurance agreement, and a related trust agreement, the reinsurer brought an action seeking to enforce certain provisions of the trust agreement after the parties received a final arbitration award under the reinsurance agreement.

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