Financial Services, Insurance & Reinsurance – the latest on Corzine’s dismissals, BlackBerry and more.
Jon S. Corzine wants a judge to dismiss the amended lawsuit against him and other former MF Global Holdings Ltd. executives, saying it is filled with “disparaging characterizations” of old facts.
In a Friday filing with U.S. Bankruptcy Court in Manhattan, lawyers for Mr. Corzine and his co-defendants said the amended complaint, filed in September by MF Global’s litigation trustee, doesn’t show they ignored risks or breached their fiduciary duty when MF Global’s sour foreign debts brought the company down… [
Read More ]
BlackBerry intends to keep making smartphones, and incoming CEO John Chen thinks it will take him six quarters to turn the company around, report Euan Rocha and Jim Finkle for
Reuters. Now that
Prem Watsa’s buyout plans have officially fallen through, it seems the company has decided to return to Plan A – go down fighting.
“I know we have enough ingredients to build a long-term sustainable business,” Chen told Reuters. “I have done this before and seen the same movie before.”… [
Read More ]
In
Murray’s Transport NSW Pty Ltd v CGU Insurance Limited [2013] SASFC 100 (Murray’s Case), CGU was unsuccessful in resisting direct action by Mr Murray, the Plaintiff/Appellant pursuant to section 51 of the
Insurance Contracts Act 1984 (Cth) (ICA). CGU was unable to prove on the balance of probabilities that its insured driver’s act of colliding into an oncoming truck was an act of suicide and therefore, fell under a deliberate conduct exclusion (Exclusion) under CGU’s policy of insurance (Policy) with its Insured, Mr McFarlane.
On 16 June 2008, Mr McFarlane was killed after driving his Jaguar motor vehicle into Mr Murray’s oncoming truck… [
Read More ]
Live Industry News
Follow
@ACI_Finance &
@Insurance_ACI
Join
ACI Financial Services: Legal, Regulatory, and Compliance Experts Group
Join
ACI Reinsurance/Insurance: Legal, Regulatory, and Compliance Experts Group
Related Events
For a complete list of all Financial Services upcoming events:
Click Here
For a complete list of all Insurance & Reinsurance upcoming events:
Click Here
For a list of past Financial Services conference proceedings:
Click Here
For a list of past Insurance & Reinsurance Conference proceedings:
Click Here
Tags: AML & OFAC, Bad faith litigation, Compliance, Consumer Finance, Derivative, Economic Sanctions, Legal News, Prepaid Compliance, Residential Mortgage, Weekly Industry News