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GLOBAL REINS. CORP. v. EQUITAS LTD.

600815/07, 1547, 1547A, 1547B.

82 A.D.3d 26 (2011)

GLOBAL REINSURANCE CORPORATION-U.S. BRANCH, Formerly Known as GERLING GLOBAL REINSURANCE CORPORATION-U.S. BRANCH, Appellant, v. EQUITAS LTD. et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

Decided January 18, 2011.

Attorney(s) appearing for the Case

Cahill Gordon & Reindel LLP, New York City ( Edward P. Krugman of counsel), for appellant.

Simpson Thacher & Bartlett LLP, New York City ( Kevin J. Arquit of counsel), for respondents.

FRIEDMAN, J.P. RENWICK and RICHTER, JJ., concur with McGUIRE, J.; MANZANET-DANIELS, J., dissents in a separate opinion.

OPINION OF THE COURT

McGUIRE, J.

The complaint alleges that the Equitas defendants are the hub of a conspiracy that violates New York's antitrust law (General Business Law § 340 et seq. [the Donnelly Act]). The product market alleged is the market for non-life (property, casualty and related lines of insurance business) retrocessional reinsurance coverage—the coverage provided by retrocessionaires to retrocedents, i.e., the reinsurers...

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