ACE is listed on the New York Stock Exchange and has numerous American stockholders. However, many of ACE Limited's officers and directors, who are not US residents, might be immune from civil liability under US Securities laws designed to ensure corporate accountability. This is a significant benefit of the ACE board's decision to reincorporate in Switzerland during 2008.
ACE Unit ESIS Fights World Trade Center Suit Subpoenas
ESIS Inc., as successor by merger to Hygienetics Environmental Services Inc., filed a motion in U.S. District Court for the Middle District of Pennsylvania seeking to quash or at least modify subpoenas served on it by Verizon New York Inc. The ACE Group company received the subpoenas on April 17th.
ESIS said the writs are seeking information pertaining to ongoing litigation in New York in disaster site litigation pertaining to the World Trade Center. In that suit, a number of litigants are alleging respiratory injuries tied to recovery, restoration and clean-up operations at sites near the twin towers following their collapse when struck by terrorist-piloted jetliners.
While it is not a party to the litigation at present, ESIS said that Verizon “would not foreclose the possibility” that it may yet still seek to join ESIS as a party to the suit.
ESIS received both a document and a deposition subpoena from Verizon. In the matter of both demands, the company said that Verizon is seeking documents or depositions that are not related to claims being put forth against Verizon. ESIS further said that in the case of the deposition subpoena that a schedule of areas of inquiry presented to it are so broad that it would be impractical, if not impossible, to produce deponents who could competently testify.
Hygienetics Environmental is part of Philadelphia-based ESIS, which provides risk management services meant to reduce clients’ costs of losses.
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