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HIH liquidator seeks $300M from Gen Re.(General Re Corp.)(HIH Insurance Ltd.)
Business Insurance, June, 2006 by FRY, ELIZABETH
Byline: ELIZABETH FRY SYDNEY, Australia-The liquidator of failed Australian insurer HIH Insurance Ltd. has decided to pursue a $400 million Australian ($300.6 million) damage claim against a unit of General Re Corp. for its alleged role in HIH's insolvency, and has been granted more time to pursue a settlement of related claims before the matter moves to court.
HIH liquidator Tony McGrath first issued statements of claim against Gen Re unit GeneralCologne Re Australia Ltd. in 2004 in the New South Wales Supreme Court, but the claim never was served. Late last month, though, Mr. McGrath's Sydney-based lawyer, Blake Dawson Waldron, alerted GCRA attorneys at Sydney-based Allens Arthur Robinson that the liquidator planned to pursue the action. Last week, NSW...
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