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The Collaborative Clearinghouse for Lawsuits and Other Claims Against ACE Group Insurance Companies

2000-02-14 ACE Limited (NYSE: ACE) 8-K

ATTENTION: It is possible that this information may no longer be current and therefore may be inaccurate. The index contains both open and closed cases and is not a complete list of cases in which an ACE Insurance Group company is involved. This information is provided to give interested persons an idea of the issues disputed in the indexed cases. For a full understanding of a case, one should read the rest of the court file, including the response. For the most up-to-date and complete information on a case, visit www.pacer.gov or contact the clerk of the relevant court.

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http://www.sec.gov/Archives/edgar/data/896159/000090256100000489/0000902561-00-0004...
-----BEGIN PRIVACY-ENHANCED MESSAGE----Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S/K0WzluJntsK9PVsMvW8AJuJ/rPqpnAaZKTAzxh/8a1R2W30GPuPt7QzJfTzfEd S8UczFbWYInijvHrSNmj9Q== <SEC-DOCUMENT>0000902561-00-000489.txt : 20001214 <SEC-HEADER>0000902561-00-000489.hdr.sgml : 20001214 ACCESSION NUMBER: 0000902561-00-000489 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001212 ITEM INFORMATION: FILED AS OF DATE: 20001213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL INDEX KEY: STANDARD INDUSTRIAL CLASSIFICATION: IRS NUMBER: FISCAL YEAR END: FILING VALUES: FORM TYPE: SEC ACT: SEC FILE NUMBER: FILM NUMBER: BUSINESS ADDRESS: STREET 1: STREET 2: CITY: STATE: BUSINESS PHONE: MAIL ADDRESS: STREET 1: CITY: STATE: </SEC-HEADER> <DOCUMENT> <TYPE>8-K <SEQUENCE>1 <FILENAME>0001.txt <TEXT> 8-K 001-11778 788277 ACE BLDG 30 WOODBOURNE AVE HAMILTON HM 08 BERMU D0 8092955200 P O BOX HM 1015 HAMITON BERMUDA D0 ACE LTD 0000896159 FIRE, MARINE & CASUALTY INSURANCE [6331] 000000000 1231
SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 12, 2000 ACE LIMITED (Exact name of registrant as specified in its charter) Cayman Islands (State or other jurisdiction 1-11778 (Commission File Number) 98-0091805 (I.R.S. Employer of Incorporation) Identification No.)
The ACE Building 30 Woodbourne Avenue Hamilton, Bermuda (Address of principal executive offices)
HM 08 Zip Code)
Registrant's telephone number, including area code: (441) 295-5200 Not Applicable (Former name or former address, if changed since last report)
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<PAGE>
Item 5.
Other Information
On December 12, 2000, ACE Limited initiated legal action against CIGNA Corporation for breach of contract arising from ACE's $3.45 billion acquisition of CIGNA's property and casualty business. Included as an exhibit to this Current Report on Form 8-K is a copy of ACE's press release issued on December 13, 2000 relating to this action.
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SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: December 13, 2000 By: ACE LIMITED Christopher Z. Marshall ----------------------Christopher Z. Marshall Chief Financial Officer
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EXHIBIT INDEX Exhibit Number - -----99.1 Description ----------Press Release, dated December 13, 2000
</TEXT> </DOCUMENT> <DOCUMENT> <TYPE>EX-99.1 <SEQUENCE>2 <FILENAME>0002.txt <DESCRIPTION>PRESS RELEASE <TEXT> FOR IMMEDIATE RELEASE Investor Contact: Media Contact: Helen M. Wilson (441) 299-9283 Wendy Davis Johnson (441) 299-9347
ACE Limited Files Lawsuit Against CIGNA HAMILTON, Bermuda - December 13, 2000 -- ACE Limited (NYSE: ACL) announced today that it has initiated legal action against CIGNA Corporation for breach of contract arising from ACE's $3.45 billion acquisition of CIGNA's property and casualty business. That acquisition closed on July 2, 1999. The complaint charges that CIGNA breached its obligations under the Acquisition Agreement on two issues. ACE's contentions are that CIGNA has withheld $48 million that ACE is entitled to under the Tax Sharing Agreement that was a part of the Acquisition Agreement; and that the financial statements, which CIGNA provided, failed to fairly represent the
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financial condition of the acquired companies. ACE is seeking total compensatory damages of approximately $218 million. The lawsuit was filed in the United States District Court (Southern District of New York) where ACE is seeking a jury trial. ACE confirms that the financial statement impact of the items under dispute have been reflected in its consolidated financial statements prior to September 30, 2000. The financial statement impact included adjustments to goodwill and other balance sheet items and was determined without including any amounts to be recovered from CIGNA as a result of the lawsuit. Accordingly, the financial results for the quarter ended December 31, 2000 will not be impacted by the items included in the lawsuit. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com. # # #
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