The Second Circuit’s recent decision in Acumen Re Management Corp. v. General Security National Insurance Co.1 contains a very informative analysis of the “multiple claims” requirement for partial final judgments pursuant to Rule 54(b) of the Federal Rules of Civil Procedure (Fed.R.Civ.P.) (“Judgment on Multiple Claims or Involving Multiple Parties”).
Acumen arose from a reinsurer’s contractual undertakings to compensate an underwriter. The underwriter, Acumen Re Management Corporation, sued the reinsurer, General Security National Insurance Company, for breach of contract, seeking contingent commissions alleged to be due. The U.S. District Court for the Southern District of New York (George B. Daniels, Judge) entered partial summary judgment for General Security, ruling that four of Acumen’s five breach-of-contract theories were baseless and that, under all five theories, no more than nominal damages were recoverable.
