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Cayman captive Performance Insurance seeks to stay US fraud lawsuits

The liquidators of Cayman Islands captive insurer Performance Insurance Company SPC have applied for Chapter 15 bankruptcy recognition in the U.S. in an attempt to stay two lawsuits in which it has been accused of participating in a scheme involving "counterfeit insurance policies".

Performance Insurance Company SPC: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Kenneth Krys and Neil Dempsey, of KRyS Global, as the Foreign Representatives of Performance Insurance Company SPC, described as a Special Portfolio Company that "operates in the captive insurance industry through 12 segregated portfolios" which were identified as Bottini Insurance LP, Gen 1 Insurance Company LP, Goldenstar Holdings Company SP, Greystone Insurance SP, Hudson York Insurance Company, Omega Insurance Company LP, Performance 5 SP, Prewett Insurance Company LP, Smart Insure LP, SSS Insurance LP, Sustainable Insurance Company SP, and Triangle RGK SP, and which has been accused of participating in a scheme involving "counterfeit insurance policies", filed at the U. S. Bankruptcy Court for the Southern District of Florida.

State National Insurance Company et al v. Ambassador Captive Solutions et al: Amended Intervening Complaint

Amended Intervening Complaint alleging "complex schemes to counterfeit insurance policies and defraud the public" in State National Insurance Company and National Specialty Insurance Company v. The Ambassador Group LLC, d.b.a. Ambassador Captive Solutions; Brandon White, Performance Insurance Company SPC, of the Cayman Islands; ePremium Insurance Agency, LLC, and Gagliardi Insurance Services, Inc. at the U. S. District Court for the Western District of Kentucky.

Lexington Insurance Company v. Ambassador Captive Solutions et al: Complaint

Complaint alleging "a scheme to counterfeit insurance policies and defraud the public" in Lexington Insurance Company v. The Ambassador Group LLC, d.b.a. Ambassador Captive Solutions; Gagliardi Insurance Services Inc., Goldenstar Specialty Insurance LLC, Performance Insurance Company, of the Cayman Islands, on behalf of Goldenstar Holdings Company SP ad Smart Insure SP, and Brandon White at the U. S. District Court for the Western District of Kentucky.