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    Financially-troubled captive fights arbitration ruling that it post $70 m in security

    A Bermuda-based captive that admits to being in "dire financial condition" is fighting an arbitration panel's order that it post security of $70 million in a dispute over coverage for sub-prime automobile loans in the United States.Details are contained in litigation at the U. S. District Court for the District of New Jersey between Founders Insurance Company Ltd., which is managed in Bermuda by Bott & Associates, and Everest Reinsurance Company, a Delaware corporation based in New Jersey that is a wholly-owned subsidiary of Bermuda-registered Everest Re Group Ltd.

    Sentinel Insurance has no assets, ex-president has bankruptcy plan rejected

    Bermuda-registered Sentinel Insurance Company Ltd., which collapsed in 2001, has "substantial debts" and "virtually no assets whatsoever", according to its provisional liquidator, Jeremy Cox. Cox, who is Bermuda's Registrar of Companies, commented on the indebtedness of Sentinel in a court filing at the U. S. Bankruptcy Court for the Northern District of Georgia on December 1, 2003.

    Bott & Associates: ‘We have not been raided.’

    Bermuda-based Bott & Associates has taken legal advice after the UK-based Insurance Times erroneously reported that the company's offices had been raided in connection with an investigation being carried out by the City of London fraud squad.