11/19/2007
START DATE
END DATE
29-Nov-07
OneBeacon America Insurance Company v. Electric Mutual Liability Insurance Company Limited (EMLICO)
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Court of Appeal for Bermuda
Insurance law corporate law
Nazareth JA Evans JA Forte JA
FACTS OF THE CASE:
EMLICO owned by General Electric became insolvent due to asbestos and environmental claims. It was relocated to Bermuda and declared insolvent in 1995. The case revolves around liability and procedural issues related to its insolvency and reinsurance claims.
SUMMARY:
Whether Bermuda or Massachusetts was the appropriate jurisdiction for litigation and if EMLICO's reinsurance contract with OneBeacon should be adjusted due to redomestication by fraud
OUTCOMES:
Chief Justice affirmed Massachusetts as the venue for litigation based on forum conveniens and the need to replicate conditions as if redomestication had not occurred.
RULED IN FAVOUR OF:
Plaintiff/Claimant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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OneBeacon America Insurance Company v. Electric Mutual Liability Insurance Company Limited (EMLICO)
EMLICO owned by General Electric became insolvent due to asbestos and environmental claims. It was relocated to Bermuda and declared insolvent in 1995. The case revolves around liability and procedural issues related to its insolvency and reinsurance claims.