James Lawless

Goldman Sachs settles Stirling Cooke litigation for $450,000

April 16, 2009

Funds controlled by Goldman Sachs have paid $450,000 to settle litigation brought by the Bankruptcy Trustee of Bermuda domiciled ex insurance broker AlphaStar Insurance Group, formerly known as Stirling Cooke Brown Holdings, which collapsed in 2003 after committing a fraud

Stirling Cooke Bankruptcy Trustee sues Goldman Sachs, auditor, D&O, law firm for $80 m

October 5, 2006

Goldman Sachs refused to pull the plug on one of the biggest frauds the insurance industry has ever known for fear it would de-rail the 137-year-old investment banker's own $3.66 billion IPO in May, 1999, it has been claimed.The extraordinary allegation appears in a civil complaint that was filed recently in the United States by the Bankruptcy Trustee of Bermuda-based broker AlphaStar Insurance Group Ltd., formerly known as Stirling Cooke Brown Holdings Ltd., and several of its subsidiaries and affiliates.

Court allows Stirling Cooke Trustee to subpoena ex-officers

February 5, 2006

The Bankruptcy Trustee of the Bermuda-based group formerly known as Stirling Cooke has received court approval to subpoenas to three former officers as part of an investigation into its financial affairs. In an order dated December 19, 2005, U. S. Bankruptcy Judge Stuart M. Bernstein, sitting at the U. S. Bankruptcy Court for the Southern District of New York, ordered that subpoenas can be served on former officers Stephen A. Crane, President, Chairman, and CEO; Anthony J. Del Tufo, Chief Financial Officer; and James Lawless, General Counsel, compelling them to provide documents and oral testimony.

Max Re sued over invalid insurance certificates

November 4, 2005

Even in bankruptcy, the now defunct, fraudulently operated Stirling Cooke Brown Insurance group is causing chaos in the insurance industry.The latest Bermuda firm to be affected is Max Re Capital Limited, which is a defendant in a civil lawsuit concerning

AlphaStar Insurance may sue ex-boss, drops controversial bonus payments plan

May 31, 2004

Collapsed broker AlphaStar Insurance Group may seek compensation from one of its founders, Nicholas Brown, over the alleged mismanagement of the company.In other news, the company has drastically revised a controversial bonus plan to pay bonuses totaling $1.6 million to

Realm National deal subject to more litigation

November 30, 2003

The acrimonious, on again, off again proposed purchase of AlphaStar Insurance subsidiary Realm National Insurance Co. by Atlanta Insurance Marketing Inc, of Georgia, has become even uglier.Already subject to legal action between the intended seller and buyer, a new lawsuit

Atlanta firm makes renewed bid to ‘steal’ Realm National Insurance

September 30, 2003

A U. S. based insurance firm is making a renewed attempt at acquiring a policy issuing subsidiary of the AlphaStar Insurance Group for $1.5 million - which is $10.5 million less than an agreed purchase price.Atlanta Insurance Marketing Inc., of