AIG Europe SA v. Gerard McCaughey et al: Complaint

    Complaint in AIG Europe SA, as subrogee of Irish Banking Resolution Corporation Ltd. (in Special Liquidation), of Luxembourg, formerly known as Anglo Irish Banking Corporation Limited v. Gerard McCaughey and Sophie McCaughey, both residents of Los Angeles County, California, at the U. S. District Court for the Central District of California.

    Transform Holdco LLC v. Zurich American Insurance Company et al: Petition

    Petition for Declaratory Judgment in Transform Holdco LLC v. Zurich American Insurance Company, ACE American Insurance Company, Allied World Assurance Company, Ltd., of Bermuda; Lloyd's Syndicate No. 318 MSP, of England; Westport Insurance Corporation, Lloyd's Syndicate No. 1414, of England; Tokio Marine America Insurance Company, Ironshore Specialty Insurance Company, Sompo International Holdings, Ltd., of Bermuda; American International Group UK Limited, of England; Neon Syndicate 2468, of Bermuda; Hamilton Re, Ltd., of Bermuda; Starr Surplus Lines Insurance Company, Canopius Insurance Services, Lloyd's Insurance Company (China) Limited, of China, and Aon Risk Services Central, Inc. at the District Court for the 162nd District, Dallas County, Texas.

    Purdue Pharma LP et al v. Chubb Bermuda et al: Complaint

    Complaint regarding insurance coverage for "the staggering costs of litigating an increasing number of claims seeking to hold them liable for their alleged role in creating and perpetuating the nationwide opioid crisis" in Purdue Pharma LP, Purdue Pharma Inc., Purdue Pharma Manufacturing LP, Purdue Pharmaceuticals LP, Purdue Transdermal Technologies LP, Purdue Pharmaceutical Products LP, Purdue Pharma of Puerto Rico, Rhodes Pharmaceuticals LP, Rhodes Technologies, and Avrio Health LP v. AIG Specialty Insurance Company (f/k/a American International Specialty Lines Insurance Company), Allied World Assurance Company, Ltd., American Guarantee and Liability Insurance Company, American International Reinsurance Company (f/k/a Starr Excess Liability Insurance International Limited), Arch Reinsurance Ltd., Aspen American Insurance Company, Certain Member Companies of the International Underwriting Association of London Subscribing to Policy No. 823/KE0002108, Chubb Bermuda Insurance Ltd. (f/k/a ACE Bermuda Insurance Ltd.), Evanston Insurance Company, Gulf Underwriters Insurance Company, HDI Global SE (f/k/a Gerling-Konzern General Insurance Company), Ironshore Specialty Insurance Company (f/k/a TIG Specialty Insurance Company), Liberty Insurance Corporation, Liberty Mutual Fire Insurance Company, Liberty Mutual Insurance Company, Liberty Mutual Insurance Europe SE (f/k/a Liberty International Insurance Company), National Union Fire Insurance Company of Pittsburgh, PA, Navigators Specialty Insurance Company, North American Elite Insurance Company, St. Paul Fire and Marine Insurance Company, Steadfast Insurance Company, Swiss Re International S.E. (f/k/a SR International Business Insurance Company also f/k/a Zurich Reinsurance (London) Limited, Tenecom Limited (f/k/a Winterthur Swiss Insurance Company), XL Bermuda Ltd. (f/k/a XL Insurance Company, Ltd.), and XL Insurance America, Inc. at the U. S. Bankruptcy Court for the Southern District of New York.

    Insignia 88 Ltd. et al v. M/Y Arena: Complaint

    Complaint for damages of £4.8 million alleging negligence from an "allision" in the Bay of Cannes, France, that resulted in "death and injuries" to "crew and guests" of a motor yacht called Minx in Insignia 88 Limited, of the Isle of Man, and American International Group UK Limited, of the United Kingdom v. M/Y Arena, described as a 92-foot motor yacht registered in Gibraltar, at the U. S. District Court for the Southern District of Florida.

    SEC v. Jon Aronson et al: Complaint

    Complaint alleging securities fraud regarding Validus Holdings Ltd., of Bermuda, in U. S. Securities and Exchange Commission v. Jon L. Aronson and Elliet N. Aronson, both of Massachusetts. at the U. S. District Court for the Southern District of New York.

    Max Bermuda et al v. TD Bank: Discovery Application

    Application by Max Bermuda Ltd., Markel Bermuda Limited, Lloyd's Underwriters, Liberty Mutual Insurance Company, Arch Insurance Company, ACE Capital V Limited, Endurance Specialty Insurance Ltd., Antares Underwriting Limited, AIG Commercial Insurance Company of Canada, Arch Insurance Canada Ltd., Chartis Excess Limited, XL Insurance Company PLC, Great Lakes Reinsurance (UK) PLC, Axis Specialty Insurance Company, Houston Casualty Company, Chubb Insurance Company of Canada, ACE Capital IV Limited, Catlin Syndicate Limited, Chaucer Corporate Capital (No. 3) Limited, Aspen Insurance UK Limited, Lexington Insurance Company, AIG Insurance Company of Canada, Allied World Assurance Company Ltd., Brit UW Limited, Novae Corporate Underwriting Limited and/or Novae Syndicates Limited, Axis Specialty Limited, AIG Excess Liability Insurance International Limited, Chaucer Corporate Capital (No. 2) Limited, and ACE Capital Limited. to take discovery from TD Bank for use in in legal proceedings in Canada regarding Scott Rothstein and the now-defunct law firm of Rothstein Rosenfeldt Adler, filed at the U. S. District Court for the Southern District of Florida.

    PBMS, Inc. v. Patriot National, Inc. et al: Notice of Removal

    Notice of Removal in PBMS, Inc. v. Patriot National, Inc., Castlepoint National Insurance Company, American International Group, Inc., Zurich American Insurance Company, Berkshire Hathaway Homestate Insurance Company, Specialty Underwriters Alliance, Inc., Tower Group, Inc., Castlepoint Florida Insurance Company, Tower National Insurance Company, Massachusetts Homeland Insurance Company, York Insurance Company of Maine, Tower Insurance Company of New York, Hermitage Insurance Company, North East Insurance Company, Preserver Insurance Company, Castlepoint Insurance Company, Lion Insurance Company, Jamestown Holdings Corporation, Packard Claims Administration, Inc., Plymouth Insurance Agency, Inc., South East Personnel Leasing, Inc., South East Personnel Leasing II, Inc., South-East Employee Leasing, Inc., South East Employee Leasing Services, Inc., Risk Transfer, LLC, Forza Lien, Inc., Patriot Captive Management, Ltd., Ancora RE, SPC, Endeavor RE, SPC, Green Oak RE, SPC, Old Dominion RE, SPC, Old Guard RE, SPC, TM3 RE, SPC, Triple M II RE, SPC, Triple M RE, SPC, Virginia RE, SPC, Atlas RE, SPC, Hawkeye RE, SPC, Intrepid RE, SPC, Waterville RE, SPC, Guarantee Insurance Company, Heffernan Insurance Brokers, Koram Insurance Center, Inc., Underwriting Solutions of America, Steven Mariano, John A. Porreca, Deborah A. Porreca, Liam Fleming, Leslie Lewis, Carol Azzrito at the U. S. District Court for the Central District of California.

    Foresight Energy, LLC v. ACE Bermuda Insurance Ltd. et al: Notice of Removal

    Notice of Removal, including copy of complaint, in Foresight Energy, LLC v. Certain London Market Insurers, Ironshore Insurance Ltd., Allied World Assurance Company Ltd., National Indemnity Company, Markel Bermuda Ltd., Certain Underwriters at Lloyd's of London, Westchester Surplus Lines Insurance Company, ACE American Insurance Company, AXIS Surplus Insurance Company (US), ACE Bermuda Insurance Ltd., Montpelier Reinsurance Ltd., Lloyd's Syndicate 0382 HDU, Aspen Specialty Insurance Company, and Landmark American Insurance Company at the U. S. District Court for the Eastern District of Missouri.

    Tetragon Financial Group Ltd. et al v. Brit UW Ltd. et al: Consent Order

    Order in Tetragon Financial Group Limited and Tetragon Financial Management LP v. Brit UW Ltd. (as sole representative of Lloyd's Syndicate BRT 2987 for the 2010 year of account), Chaucer Syndicates Limited, (representing Lloyd's Syndicate CSL 1084 for the 2010 year of account), and AIG Europe Limited at the Grand Court of the Cayman Islands.

    19 more claw-back actions for $65 m filed in Cayman by Weavering liquidators

    Nineteen more claw-back lawsuits seeking a combined US$65 m have been filed in the Cayman Islands by the liquidators of Weavering Macro Fixed Income Fund against banks, investment funds and other firms in Bermuda, Canada, Cayman, Curacao, France, Guernsey, Hong Kong, Ireland, Jersey, Luxembourg, Singapore, and Switzerland.

    Tetragon Financial Group Ltd. et al v. Brit Uw Ltd. et al: Writ of Summons

    Writ of Summons in Tetragon Financial Group Limited and Tetragon Financial Management LP v. Brit Uw Ltd. (as sole representative of Lloyd's Syndicate BRT 2987 for the 2010 Year of Account), Chaucer Syndicates Limited (Representing Lloyd's Syndicate CSL 1084 for the 2010 Year of Account), and AIG Europe Limited at the Grand Court of the Cayman Islands.

    ICP Structured Credit Income Fund Ltd.: Chapter 15 Petition

    Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Hugh Dickson and Stephen Akers, as the Foreign Representatives of ICP Structured Credit Income Fund Ltd. and ICP Strategic Credit Income Master Fund Ltd., at the U. S. Bankruptcy Petition for the Southern District of New York.

    Chartis Excess Limited: Chapter 15 Petition

    Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Ireland by Alexander Rosati, as the Foreign Representative of Chartis Excess Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

    Fraudulent Websites: February 3, 2011

    Notice entitled 'Websites with Cayman Addresses Not Registered nor Licensed in the Cayman Islands' issued by the Cayman Islands Monetary Authority.

    Reinsurers seek to avoid $30 m-plus claims by chemicals manufacturer

    Fourteen reinsurers, including four based in Bermuda, has brought a legal action against a New York Stock Exchange listed chemicals manufacturer and its captive insurer in an attempt to avoid paying claims totaling more than $30 million arising from Hurricane

    AIG accuses ex-directors and officers of misappropriating shares worth $20 b

    Two Bermuda residents have been accused of breach of fiduciary duty in a civil complaint filed by American International Group Inc. at the Supreme Court of the State of New York, New York County, on March 26, 2008 Ernest E. Stempel and L. Michael Murphy are defendants alongside Maurice R. Greenberg, a resident of New York; Howard I. Smith, a resident of New York; Edward E. Matthews, a resident of New Jersey; John J. Roberts, a resident of Maryland; and Houghton Freeman, a resident of Hawaii. The causes of action are breach of fiduciary duty as AIG directors against Greenberg and Smith and, against all defendants, breach of fiduciary duty as fiduciaries of AIG, and aiding and abetting breach of fiduciary duty.

    SCA hit with class actions lawsuits filed by buyers of municipal bonds

    Bermuda-based Security Capital Assurance Ltd., in which XL Capital owns a 46% stake, has been hit with a new wave of class action lawsuits. Already facing class action litigation brought on behalf of shareholders for alleged fraud, the latest lawsuits seek to recover damages on behalf of purchasers of municipal derivatives from January 1, 1992 to the present. The latest class action complaints - numbering three so far - were filed at three different federal courts in the United States from March 12 to April 23, 2008, with eight municipalities or cities and one university as the specimen plaintiffs.

    Latin America Round-Up: December 11, 2007

    BRAZIL: Investigating Swiss Banks; CHILE: First Money Launderer in Prison; COLOMBIA: Parapolitics in Action; GUATEMALA:New President; MEXICO: Arellano Félix Sentenced to Life; Friction over Merida Initiative; The Mexican Connection in the Wachovia and Harris banks Case; PERU: 30 Years for Fujimori?; REGIONAL: ‘Specially Designated' Latin Americans; and VENEZUELA: Seedy Diamonds.

    Bermuda insurers attempt to force arbitration on NYSE-listed firm

    Reinsurers in Bermuda and elsewhere are seeking to force a Vermont based captive and its NYSE listed parent to arbitrate a dispute involving claims from a fire at a chemical manufacturing plant.A motion to compel arbitration was filed against International

    Condor Insurance Ltd.: Chapter 15 Petition

    Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Nevis by Richard Fogerty and William Tacon, as Foreign Representatives of Condor Insurance Limited, at the U. S. Bankruptcy Court for the Southern District of Mississippi.

    Sears accuses Bermuda insurers of ‘frustrating’ claims for hurricane losses

    United States-based retail giant Sears is suing insurers in Bermuda and elsewhere for allegedly frustrating the processing and payment of “enormous” claims stemming from Hurricane Katrina in 2005. Sears Holdings Corporation, a Delaware corporation based in Hoffman Estates, Illinois, filed a civil complaint at the Circuit Court of Harrison County, Mississippi Second Judicial Court on August 25, 2006, with the case being transferred to the U. S. District Court for the Southern District of Mississippi on December 18, 2006.

    Colorado-based ‘offshore bank’ target of lawsuits & regulatory warning

    A Colorado-based financial institution that promotes itself as the first ‘offshore bank' in the United States is living up to its billing - by becoming involved in controversy. American International Holding LLC, d.b.a. American International Depository & Trust, has only been in business since 2003 but has already been sued twice at U. S. federal courts.

    Real-life ‘Pirates of the Caribbean’ now showing at Florida court

    The legal version of ‘Pirates of the Caribbean' is being played out in a Florida court case involving a Bahamas studio where scenes from two movies of the same name were shot. Among the cast of characters is a Bermuda Stock Exchange-listed company, a British Virgin Islands shell company that operates as an “underwriting” vehicle; a dubious Nevis-based insurer that is facing liquidation in a separate, unrelated action; and a Florida attorney who is currently suspended from practicing law for allegedly misappropriating client funds.

    Bermuda companies sued by Marsh clients over bid-rigging scheme

    Eight Bermuda based companies are among the defendants in a recently civil lawsuit filed recently by clients of broker Marsh & McLennan who claim they were damaged in a bid rigging scam. One of the plaintiffs is also incorporated in Bermuda.

    Belarus: Belarusian Steel Works

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Belarus into corruption, bribery and fraud involving Belarusian Steel Works, including an alleged bribe by SP Klemantovich to VV Fillippov while the latter was Director General of the Belarusian Steel Works.

    AIG cooks the books using offshore insurance structures

    Insurance giant AIG has used offshore structures in Barbados and Bermuda to circumvent or violate U. S. state laws regarding reinsurance and to help at least one crooked client evade taxes.In the late 90s, four state insurance departments were aware

    Overseas Partners close to settling class action lawsuits

    Bermuda-based Overseas Partners Ltd. says it has reached a "tentative settlement" in two class action lawsuits filed on behalf of customers of its affiliate, United Parcel Service. The lawsuits were filed in the United States in 1999 and 2000 by parties who alleged racketeering, claiming they had been sold sham insurance in a UPS shipper's risk program that was reinsured by OPL.

    Allied World Assurance opens office in Dublin

    New Bermuda based insurer, Allied World Assurance Holdings, has been granted a license to commence business in Dublin, Ireland."The location will be the European head office of Allied World Assurance Holdings (Ireland) Ltd and will operate through its wholly owned

    Bermuda Commodities Exchange goes into liquidation

    The AIG sponsored Bermuda Commodities Exchange, which was trying to pioneer the trading of insurance derivatives,, has gone into voluntary liquidation.A legal notice published in Bermuda stated that the Exchange "cannot by reason of its liabilities continue its business".The Bermuda

    Bermuda Commodities Exchange loses money for AIG

    The Bermuda Commodities Exchange, which suspended trading in the first week of August, appears to have been an expensive failure for the American International Group.AIG is believed to have borne the brunt of the estimated losses of more than $2 million suffered by the experimental insurance derivatives exchange in its two -year life-span.

    UPS faces $1 billion liability from its Bermuda reinsurer

    United Parcel Service could be liable for as much as $1 billion in federal income taxes if it loses a case now before the US Tax Court in Atlanta that involves Bermuda based reinsurer, Overseas Partners Ltd., which reinsures UPS