Parties Brief Summary Judgment Bids In Indemnification Dispute Involving Deals

( March 3, 2025, 8:31 AM EST) -- BOSTON — Competing summary judgment motions have been filed in an indemnification dispute, with the plaintiff telling a Massachusetts federal court that it is entitled to damages of at least $75.7 million plus interest and fees under the plain language of a stock purchase agreement (SPA) and reinsurance agreement, and the defendant contending that agreements executed in a  later “clean shell” deal constituted a novation of any obligations and that the plaintiff’s conduct since 2013 “is not how an insurer acts with respect to a company that it truly believes is providing it with reinsurance coverage.”...