Legal Opinion
Carl H. Loewenson, Jr., Receiver-Appellee v. London Market Companies, Certain Underwriters at Lloyd's, London
Court of Appeals for the Second Circuit
Decided December 5, 2003No. 02-6322PublishedCited by 8 opinions
1Opinion of the Court
JON O. NEWMAN, Circuit Judge.
Most people would think that insurance underwriters are very good at numbers. This appeal demonstrates that sometimes they are not. The appeal presents the issue of whether a flawed calculation constitutes the sort of mutual mistake that justifies reformation of a contract, in this case, a settlement agreement. London Market Companies and Certain Underwriters at Lloyd’s of London, third-party-defendants-appellants (“Underwriters”), appeal from the January 6, 2003, judgment of the District Court for the Southern District of New York (Robert W. Sweet, District…
2Cases cited4 opinions
- George Backer Management Corp. v. Acme Quilting Co.New York Court of Appeals · 1978
- Securities & Exchange Commission v. Credit Bancorp, Ltd.District Court, S.D. New York · 2001
- Securities & Exchange Commission v. Credit Bancorp, Ltd.District Court, S.D. New York · 2000
- Prudential Insurance Co. of America v. S.S. American LancerCourt of Appeals for the Second Circuit · 1989
3Cited by8 opinions
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- Raytheon Co. v. National Union Fire Ins. Co. of PittsburghDistrict Court, S.D. New York · 2004
- RAGHAVENDRA v. Trustees of Columbia UniversityDistrict Court, S.D. New York · 2010
- Citibank, N.A. v. Morgan Stanley & Co. International, PLCDistrict Court, S.D. New York · 2011
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