Complaint filed against Founders Insurance and quickly dropped

A civil complaint against Bermuda-based Founders Insurance Company Limited has been dismissed at federal court in the United States just 20 days after it was filed by a company that created and managed sub-prime automobile loan portfolios.
The complaint was filed by Centrix Funds, LLC, formed in Delaware; Centrix Loan Participation Fund-Series CLPF, Centrix Loan Trust, Centrix Loan Trust II, Centrix CLPF-2A Loan Trust, Centrix CLPF-2 Loan Trust, Centrix CLLPF-5 Loan Trust, and Centrix Special Series Loan Trust, all formed in Delaware as ‘series trusts’, at the U. S. District Court for the District of Colorado on July 9, 2008 and terminated on July 29.