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Bancroft Life's fired managers must return records and 'cease interfering' with relationships, rules US Court

January 07, 2012 by David Marchant

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  • Bancroft's former managers 'failed to return records after being terminated in 2009'
  • Bancroft later failed an audit by its regulator, St. Lucia's Ministry of Finance
  • Former managers' withholding of records 'prevented Bancroft and its insureds from complying with St. Lucia's Insurance Act'
  • Bancroft was 'likely to succeed' in its claims for defamation, business interference and breach of fiduciary duty

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The U. S. Court of Appeals has upheld a lower court's decision ordering the former managers and professional advisors of offshore insurer Bancroft Life & Casualty to return its "corporate books and records" and "cease interfering" with the insurer's relationship with its insureds.

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