MF Global Holdings Ltd. v. Allied World Assurance Co. (In re MF Global Holdings Ltd.)
This case involves an adversary proceeding in the New York Bankruptcy Court, where Plaintiffs MF Global Holdings, Ltd. and MF Global Assigned Assets LLC are seeking to recover E&O insurance proceeds from Bermuda-based insurers. The Bermuda Insurers had obtained ex parte anti-suit injunctions from a Bermuda court, preventing the Plaintiffs from participating in the New York proceedings. Judge Martin Glenn issued a temporary restraining order, enjoining the Bermuda Insurers from enforcing these injunctions, asserting the New York court's jurisdiction and emphasizing the importance of an adversarial system. The court declined to hold the insurers in contempt but scheduled a preliminary injunction hearing to fully address the complex jurisdictional and arbitrability issues.