Assured Guaranty (UK) Ltd. v. J.P. Morgan Investment Management Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Sweeny, J.
This appeal raises several issues, the most significant being whether common-law causes of action for breach of fiduciary duty and gross negligence are preempted by New York State’s Martin Act (General Business Law §§ 352 — 359-h). This is a pure question of law and one that has generated a significant amount of discussion, both on the state and federal levels.
*296The facts are as follows:
Nonparty Scottish Re (U.S.) Inc., a United States-based life reinsurance company, had reinsured numerous life insurance policies having policy issue dates in 2004. The reinsured…
2Cases cited36 opinions
- Leon v. MartinezNew York Court of Appeals · 1994
- Guggenheimer v. GinzburgNew York Court of Appeals · 1977
- Burns Jackson Miller Summit & Spitzer v. LindnerNew York Court of Appeals · 1983
- Sommer v. Federal Signal Corp.New York Court of Appeals · 1992
- CPC International Inc. v. McKessonNew York Court of Appeals · 1987
31 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- Bayerische Landesbank, New York Branch v. Aladdin Capital Management LLCCourt of Appeals for the Second Circuit · 2012
- Picard Ex Rel. Liquidation of Bernard L. Madoff Investment Securities LLC v. Madoff (In Re Bernard L. Madoff Investment Securities LLC)United States Bankruptcy Court, S.D. New York · 2011
- Assured Guaranty (UK) Ltd. v. J.P. Morgan Investment Management Inc.New York Court of Appeals · 2011
- Berenger v. 261 West LLCAppellate Division of the Supreme Court of the State of New York · 2012
- Allstate Insurance v. Countrywide Financial Corp.District Court, C.D. California · 2011
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