CURIALE (Liquidator of UNION INDEMNITY INSURANCE COMPANY OF NEW YORK) VAIG MULTI-LINES SYNDICATE INC ET AL

(1994) 3 Re LR 29

United States, New York Supreme Court, Appellate Division County of New York

Before Lord Templeman, Lord Mustill, Lord Woolf, Lord Lloyd of Berwick and Sir Thomas Eichelbaum

Insolvency - Fraud - Reassured’s liquidator’s claims against reinsurers and broker - Whether relying on unenforceable contracts - Whether counterclaims for rescission available against liquidator - Whether cause of action against reinsurers for unjust enrichment to recoup premiums paid for coverage declared unenforceable was viable - Whether motions on part of foreign reinsurers who had not posted security pursuant to New York Insurance Law section 1213(c) should be denied.