GARAMENDI V ABEILLE-PAIX REASSURANCES ET AL

(1995) 4 Re LR 86

United States Superior Court of the State of California County of Los Angeles

Before Richard P Byrne, Norman R Dowds and Thomas T Johnson, Retired Judges of the Superior Court, as Referees

Pool - Insolvency of retrocedant (Mission) - Action by liquidator against pool members - Whether liquidator or Mission had any contract with pool members - Whether liquidator could recover against pool members - Whether breach of contract by pool members would entitle liquidator only to damages for losses paid by Mission - Whether case reserves and IBNR recoverable as damages flowing from any breach of contract by pool members - Whether pool members entitled to repudiate retrocessions - Alleged illegal and unenforceable agreement - Alleged failure to disclose material facts.