LEVINSON v. AMERICAN ACC. REINSURANCE GROUP


503 A.2d 632 (1985)

David N. LEVINSON, Insurance Commissioner of the State of Delaware, in his capacity as Receiver of the Estate of Tara Life Insurance Company of America, Petitioner, and The Delaware Life and Health Insurance Guaranty Association, Intervenor. v. AMERICAN ACCIDENT REINSURANCE GROUP, an unincorporated association of insurance companies transacting business in the State of Delaware, using a common name, and Duncanson & Holt, Inc., a corporation transacting business in the State of Delaware, Respondents.

Court of Chancery of Delaware, New Castle County.

Decided: December 3, 1985.


Attorney(s) appearing for the Case

John H. Small and Wayne J. Carey of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, Jonathan F. Bank, and Linda M. Lasley, of Buchalter, Nemer, Fields, Chrystie & Younger, Los Angeles, Cal., for petitioner.

Jack B. Jacobs and Josy W. Ingersoll of Young, Conaway, Stargatt & Taylor, Wilmington, for intervenor.

John J. Schreppler, II, of Richards, Layton & Finger, Wilmington, Lawrence S. Greengrass, and Andrew Maneval, of Rein, Mound & Cotton, New York City, for respondents.


WALSH, Justice.*

This case presents an issue of first impression in this state: whether federal courts have exclusive jurisdiction over cases arising under the Racketeer Influenced and Corrupt Organizations Act ("RICO"). 18 U.S.C. §§ 1961-1968 (1982). The issue of RICO jurisdiction arises in connection with the efforts of the Insurance Commissioner of the State of Delaware ("Commissioner...

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