Insurance

Application by Sempre Fideles, of Saint Luci, to take discovery from JPMorgan Chase & Co., The Bank of New York Mellon Corporation, and U.S. Bancorp for use in legal proceedings in Saint Lucia against Reliant Group & Casualty Insurance ICC, Ltd., Outdoor Living Inc., Cosmo Import and Export LLC, and Geneva International Insurance Inc., filed at the U.S. District Court for the District of Delaware.

Complaint alleging "a years-long pattern of fraud perpetrated on the lenders of hundreds of millions of dollars of debt by a group of entities operating under the domination and control of Defendants Josh Wander, Steven Pasko, and Kenneth King" in Leadenhall Capital Partners LLP, described as "a London-based asset management company which focuses on granting institutional investors access to insurance-related risks", and Leadenhall Life Insurance Linked Investments Fund Plc, described as "an investment company organized as a public limited company under the laws of Ireland" v. Josh Wander, Steven Pasko, Kenneth King, 777 Partners LLC, 600 Partners LLC, SPLCSS III LLC, Signal SML 4 LLC, Insurety Agency Services LLC, Dorchester Receivables II LLC, SuttonPark Capital LLC, Signal Medical Receivables LLC, Insurety Capital LLC, SuttonPark Servicing LLC, Signal Servicing LLC, Insurety Servicing LLC, and Advantage Capital Holdings LLC at the U.S. District Court for the Southern District of New York.

Complaint in BC Insurance SA, of Switzerland, on its own behalf and as placing brokers and agents for Eurobulk Ltd. v. Redbridge Insurance Company Ltd., of Barbados, at the U.S. District Court for the Southern District of Florida.

Complaint in Ital Brokers S.p.A., of Genoa, Italy v. Redbridge Insurance Company Ltd., of Barbados, at the U.S. District Court for the Southern District of Florida.

Director Details for Knight Insurance Company Ltd., obtained from the Cayman Islands General Registry on April 13th, 2024.

Director Details for Knight Insurance Company SPC, obtained from the Cayman Islands General Registry on April 13th, 2024.

Originating Application in the matter of UPC Re at the Grand Court of the Cayman Islands.

Complaint "777 transferred two cash-rich subsidiaries – Sutton Specialty Insurance Company and Sutton National Insurance Company – to Defendant Pasko for no consideration to shield those assets from creditors" in Obra Capital Management LLC, Vida Longevity Fund LP, Vida Insurance Credit Opportunity Fund II LP, of the Cayman Islands, and Vida Insurance Credit Opportunity Fund III LP, of the Cayman Islands v. 777 Partners LLC and Steven W. Pasko at the Supreme Court of the State of New York, County of New York.

Complaint in Nordboen Shipping Ltd., of Malta v. M/V Bulk Spencer and Bulk Spencer Navigation Ltd., of the Marshall Islands, at the U.S. District Court for the District of Maryland.

Winding Up Petition in the matter of Kingkey Financial International (Holdings) Limited, described as "an investment holding company" based in Hong Kong, at the Grand Court of the Cayman Islands.

Director Details for Best Meridian International Insurance Company SPC, obtained from the Cayman Islands General Registry on February 28th, 2024.

Writ of Summons in Carlyle Aviation Management Limited, SASOF IV (E) Aviation Ireland DAC, SASOF II (A10) Aviation Ireland DAC, Lapis Aircraft Leasing Limited, Ltd., SASOF III (A21) Aviation Ireland DAC, and Fly Aircraft Holdings Thirty-One Limited, who "are the owners, lessors, trustees and/or assignees in respect of the financing of airframes and engines" v. Best Meridian Insurance Company, of Miami, Florida, USA; Best Meridian International Insurance Company SPC, c/o Hyperion Insurance Management (Cayman) Limited; Global BRG LLC, of Sunrise, Florida, USA; Ingosstrakh Insurance Company Ltd., of Moscow, Russia, and JSC Group of Insurance Companies Ugoria, of Ugra, Russia, at the Grand Court of the Cayman Islands

One day after their Chapter 15 bankruptcy recognition petition was dismissed in the United States after an objection by the Federal Deposit Insurance Corporation, the liquidators of the Cayman Islands Branch of the U.S.-headquartered Silicon Valley Bank sued the FDIC for allegedly discriminating against Chinese depositors.

Complaint in Niall Ledwidge, of Stout; Michael Pearson, and Andrew Childe, both of FFP, as Joint Official Liquidators of Silicon Valley Bank (Cayman Islands Branch) v. Federal Deposit Insurance Corporation, as Receiver of Silicon Valley Bridge Bank, N.A. and Silicon Valley Bank, Santa Clara; George R. Fritz, Janine D. Henkes, and John Does 1-100 at the U.S. District Court for the District of Columbia.

Memorandum Opinion and Order Dismissing Chapter 15 Petition in re.: Silicon Valley Bank (Cayman Islands Branch) at the U.S. Bankruptcy Court for the Southern District of New York.

Public Warning by the Swiss Financial Market Supervisory Authority that Swiss Financial Insurance GmbH “is “suspected of conducting unauthorised activities in the financial market”.

Director Details for Coinbase Insurance Company SPC, Ltd., obtained from the Cayman Islands General Registry on February 4th, 2024.

Complaint in Chaucer Insurance Company DAC, of Ireland, and Chaucer Syndicates Ltd., of England, as managing agent for Lloyd's Syndicate 1084 v. Vesttoo Bay XXIV, Limited Partnership, of Israel; White Rock Insurance (SAC) Ltd. in respect of Segregated Account T108-Chaucer, described as "a segregated account formed pursuant to the Bermuda SAC Act", and Charles Thresh and Michael Morrison, as Joint Provisional Liquidators of White Rock Insurance (SAC) Ltd., of Bermuda, at the U.S. Bankruptcy Court for the District of Delaware.

Fueled by the "disparate treatment" of domestic and foreign depositors by the Federal Deposit Insurance Corporation in the United States, the liquidators of the Cayman Islands Branch of Silicon Valley Bank have applied for Chapter 15 bankruptcy recognition in New York.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Michael Pearson, Andrew Childe, and Niall Ledwidge, as the Foreign Representatives of Silicon Valley Bank (Cayman Islands Branch) (in Official Liquidation), filed at the U.S. Bankruptcy Court for the Southern District of New York.

Complaint in Sun Re Ltd., formerly known as Selecta Insurance and Reinsurance Company (Caribbean), Ltd., of Saint Kitts and Nevis, whose CEO was identified as Vasily Kozlov v. Cogan Capital, LLC, described as a Delaware company based in Texas, at the U.S. District Court for the Northern District of Texas.

'Statement of the Register' for GIG Insurance Limited, obtained from the Guernsey Registry on December 26th, 2023.

Public Notice by the Guernsey Financial Services Commission that GBG Insurance Limited has gone into administration, nine months after its directors informed the FSC that "they had discovered that assets shown in the accounts representing many millions of pounds did not actually exist".

Public Notice by the Bermuda Monetary Authority that it has revoked the registration of Vesttoo Alpha P&C Fund, LP.

Deferred Prosecution Agreement in USA v. H.W. Wood Limited, described as "an international reinsurance broker" based in England, at the U.S. District Court for the Southern District of Florida.

Deferred Prosecution Agreement in USA v. Tysers Insurance Brokers Limited, of England, described as an "international reinsurance broker", at the U.S. District Court for the Southern District of Florida.

Class Action Complaint in Paul Glantz v. James River Group Holdings Ltd.,described as "an exempted holding company registered in Bermuda, organized for the purpose of acquiring and managing insurance and reinsurance entities"; Frank N. D'Orazio, and Sarah C. Doran at the U.S. District Court for the Southern District of New York.

Complaint alleging "a breach of contract action arising from Venezuela’s failure to make contractually mandated principal and interest payments on two series of bonds" in John Johnston and Edward Willmott, as Joint Provisional Liquidators on behalf of PDV Insurance Company Ltd., of Bermuda v. The Bolivarian Republic of Venezuela at the U.S. District Court for the Southern District of New York.

Criminal Information alleging conspiracy to violate the Foreign Corrupt Practices Act by bribing "foreign officials" in Ecuador "to secure improper advantages in order to obtain or retain reinsurance business from Seguros Sucre and Rocafuerte" in USA v. Tysers Insurance Brokers Limited, formerly Integro Insurance Brokers Limited, and H.W. Wood Limited, each described as "an international reinsurance broker based in the United Kingdom", at the U.S. District Court for the Southern District of Florida.

Petition to Compel Arbitration in GIC Re, India, Corporate Member Limited, described as "an English reinsurance company" v. Tyson International Company Ltd., described as a Bermuda insurer, at the U.S. District Court for the Southern District of New York.

Complaint in Willen Jan M. van Andel and Eleonora L. Zetteler, in their capacity as insolvency practitioners in the insolvency of Nederlandsche Algemeene Maatschappij van Levensverzekering “CONSERVATRIX” N.V. v. Greg Evan Lindberg, of North Carolina, USA; Trier Holding B.V., of the Netherlands; Netherlands Insurance Holdings Inc., of Delaware, USA, and NIH Capital LLC, of Delaware, USA, at the U.S. District Court for the Middle District of North Carolina.

Petition to Confirm Arbitration Award that "arises out of the Directors, Officers and Company Liability Insurance Policy Public Company Claims Made Policy issued by Sompo Japan Nipponkoa Insurance Inc. to Nissan Motor Co., Ltd. for the period of July 1, 2018 to July 1, 2019" in Sompo Japan Insurance Inc., of Japan v. Carlos Ghosn Bichara, described as "a citizen and resident of Beirut, Lebanon", at the U.S. District Court for the District of Delaware.

A depositor of the Cayman Islands branch of California-based Silicon Valley Bank is suing the Federal Deposit Insurance Corporation in the United States for allegedly illegally transferring its entire balance of $250,000 out of its account. Cayman-domiciled Knight League Limited alleges conversion, unjust enrichment, and breach of contract.

Complaint alleging conversion, unjust enrichment, and breach of contract regarding the alleged transfer of $250,000 out of the Cayman Islands branch of Silicon Valley Bank in Knight League Limited, of the Cayman Islands v. Federal Deposit Insurance Corporation at the U.S. District Court for the District of Columbia.

Claim Form in Tranquility Oasis Inc., of Delaware v. Spheric Assurance Company Ltd. at the British Virgin Islands High Court.

Director Details for Green Oak Re SPC, obtained from the Cayman Islands General Registry on October 9th, 2023.

Complaint alleging breach of contract and insurance bad faith in Samuel Bankman-Fried, described as "a defendant in an ongoing, complex criminal trial relating to alleged conduct related to Paper Bird Inc. and its subsidiary FTX Trading Ltd." v. Continental Casualty Company, described as "Mr. Bankman-Fried’s excess insurer under a directors and officers insurance policy", at the U.S. District Court for the Northern District of California.

Application for the appointment of a Commissioner to collect evidence from Allianz Global Assistance - pursuant to a request for judicial assistance from Panama - for a criminal investigation into Imtiaz Ismail Dasoo Dasoo for suspected fraud.

Director Details for Ancora Re SPC, obtained from the Cayman Islands General Registry on September 7th, 2023.

Petition for Court Supervision of a Voluntary Liquidation in the matter of Green Oak Re, SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Petition for Court Supervision of a Voluntary Liquidation in the matter of Ancora Re SPC (in Voluntary Liquidation).

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Michael Morrison and Charles Thresh, as the Foreign Representatives of White Rock Insurance (SAC) Limited, described as "an indirectly controlled subsidiary of Aon Plc, a global professional services firm providing a broad range of services, including insurance and reinsurance brokerage and insurance management services", filed at the U.S. Bankruptcy Court for the District of Delaware. Editor's Note: The underlying insolvency proceedings are being conducted in secret at Bermuda Supreme Court, in keeping with the Court's policy of concealing negative information about Bermuda businesses from the general public.

Public Notice by the Bermuda Monetary Authority that it has imposed civil penalties totaling $900,000 on insurer Acadia Life Limited for regulatory breaches.

Complaint "to recover more than $19,000,000 that was fraudulently transferred to One Florida Bank by non-party Lighthouse Management, LLC" in Fortinbras Enterprises LP, HT Investments LLC, Silver Rock Contingent Credit Fund LP, all of Delaware, USA, and Silver Rock Tactical Allocation Fund LP, of the Cayman Islands v. One Florida Bank at the Circuit Court of the Ninth Judicial Circuit, in and for Orange County, Florida.

Public Notice by the Bermuda Monetary Authority that it has imposed a fine of $100,000 on Acadia Life International Limited for regulatory breaches.

Chapter 11 Petition by Vesttoo US Inc., Vesttoo Ltd., Vesttoo SPV Holdings LLC, Vesttoo Reinsurance Intermediary Services Inc., Vesttoo Asset Management LLC, Vesttoo Securities (USA) LLC, Vesttoo UK Ltd., Vesttoo Japan Co., Ltd., Vesttoo Korea Inc., Vesttoo Holdings Ltd., Vesttoo Hong Kong Limited, Vesttoo Malta Ltd., Vesttoo Malta Trading Ltd., Vesttoo Marketplace Ltd., Vesttoo Alpha Holdings Ltd., Vesttoo Bermudian Bay Ltd., Vesttoo Alpha P&C Ltd., Vesttoo Alpha Special Purpose Trust, Vesttoo Alpha Manager Ltd., Vesttoo Alpha P&C Fund GP L.P., Vesttoo Alpha P&C Fund L.P., Vescor Bay GP L.P., Vescor Bay L.P., Vesttoo Partners 101 L.P., Vesttoo Partners 102 L.P., Vesttoo Partners 103 L.P., Vesttoo Partners 104 L.P., Vesttoo Partners 105 L.P., Vesttoo Bay One Limited Partnership, Vesttoo Bay X Limited Partnership, Vesttoo Bay XI Limited Partnership, Vesttoo Bay XII Limited Partnership, Vesttoo Bay XIII Limited Partnership, Vesttoo Bay XIV Limited Partnership, Vesttoo Bay FIFTEEN Limited Partnership, Vesttoo Bay XVI Limited Partnership, Vesttoo Bay XVII Limited Partnership, Vesttoo Bay XVIII Limited Partnership, Vesttoo Bay XIX Limited Partnership, Vesttoo Bay XX Limited Partnership, Vesttoo Bay XXI Limited Partnership, Vesttoo Bay XXII Limited Partnership, Vesttoo Bay XXIII Limited Partnership, Vesttoo Bay XXIV Limited Partnership, Vesttoo Bay XXV Limited Partnership, Vesttoo Bay One Hundred Limited Partnership, Vesttoo Bay One Hundred One Limited Partnership, Vesttoo Bay One Hundred Two Limited Partnership, and Vesttoo Bay 103 Limited Partnership at the U.S. Bankruptcy Court for the District of Delaware.

Petition seeking "an injunction freezing the assets of Respondents Vesttoo Ltd. and its subsidiaries ... pending arbitrations of White Rock’s claims against Vesttoo, stemming from an apparent large-scale fraud scheme surrounding letters of credit" in White Rock Insurance (SAC) Ltd., described as "a Bermuda exempted segregated accounts company" v. Vesttoo Ltd., described as "a privately-held company registered under the laws of Israel", and its subsidiaries, Vesttoo Bay XIV, L.P., Vesttoo Bay XV, L.P., Vesttoo Bay XVII, L.P., Vesttoo Bay XIX, L.P., Vesttoo Bay XX, L.P., Vesttoo Bay XXI, L.P., Vesttoo Bay XXII, L.P., Vesttoo Bay XXIV, L.P., Vesttoo Bay XXV, L.P., Vesttoo Bay 101, L.P., Vesttoo Bay 102, L.P., Vesttoo Partners 103, L.P., all of Israel; Vesttoo Asset Management LLC, Vesttoo Reinsurance Intermediary Services Inc., Vesttoo RT SPV LLC, Vesttoo Securities (USA) LLC, Vesttoo SPV Holdings LLC, Vesttoo US Inc., all of Delaware, USA, and Vesttoo Reinsurance Intermediary Services Inc., of New York, USA, at the U.S. District Court for the Southern District of New York.

Complaint for Interpleader regarding "the multiple insureds’ competing claims to limited proceeds under the Hiscox Policy in connection with the collapse of FTX Trading Ltd. and related entities" in Hiscox Syndicates Limited, of England v. Paper Bird Inc., Samuel Bankman-Fried, Nishad Singh, Ramnik Arora, Claire Watanabe, Howard Andrew Fisher, Amy Wu, Zixiao (Gary) Wang, Ryan Salame, Can Sun, Constance Zhe Wang, Luk Wai (Jen) Chan, Natalie Tien, Zane Tackett, Zhongyuan (David) Ma, Daniel Friedberg, Robin Matzke, Patrick Gruhn, Ross Rheingans-Yoo, Nicholas Beckstead, and Jonathan Cheesman at the U.S. District Court for the Northern District of California.

Public Notice by the Bermuda Monetary Authority that it has petitioned Vesttoo Alpha P&C Ltd. into provisional liquidation at Bermuda Supreme Court.

Complaint in Marsh Management Services Cayman Ltd. v. Michael Craig Bowden at the Summary Court of the Cayman Islands.