John McKenna

Kingate Euro Fund Ltd. et al: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Paul Pretlove and Tammy Fu, of Kalo (BVI) Limited and Kalo (Cayman) Limited, as the Foreign Representatives of Kingate Euro Fund Ltd. and Kingate Global Fund Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.

Irving Picard v. Kingate Global Fund Ltd.: Motion to Approve Settlement

Motion for an Order Approving Settlement Agreement in Irving Picard, as Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC v. Kingate Global Fund Ltd. and Kingate Euro Fund Ltd., both of the British Virgin Islands, at the U. S. Bankruptcy Court for the Southern District of New York.

Saad Investments Company Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of Foreign Main Proceeding in the Cayman Islands by Hugh Dickson and Mark Byers, of Grant Thornton, as the Foreign Representatives of Saad Investments Company Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Gerova Financial Group Ltd. et al: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Michael Morrison, Charles Thresh, and John McKenna, as the Foreign Representatives of Gerova Financial Group Ltd. and Gerova Holdings Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.

Claims of $2 b filed against Wachovia’s BluePoint Re

Claims totaling $2 billion "net of security" have been filed against Wachovia Corp.'s failed Bermuda based financial guaranty reinsurer BluePoint Re Limited (in liquidation), according to a recent court filing in the United States.The total comprised 12 claims totaling $1.66

BluePoint Re Limited: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by John McKenna, as the Foreign Representative of BluePoint Re Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Fortress Re insiders agree to settle for $400 m

Fortress Re Inc. and its two principals, Maurice Sabbah and Kenneth Kornfeld, have reportedly agreed to settle a $1 billion arbitration award by giving up assets worth more than $400 million.The assets include "lavish homes, antiques, a Gulfstream III jet and other assets", according to a report in the Wall Street Journal on July 21, 2004.

Liquidators seek to depose former New Cap Re boss

The liquidators of New Cap Reinsurance Corporation (Bermuda) Ltd. have been granted a request for judicial assistance by a United States court.The decision on July 8, 2003 by the U. S. District Court for the District of Connecticut allows liquidators John McKenna and Gareth Hughes to depose Udayan Ghose.

Carolina Re insiders sued over $485 m dividend payouts

The Joint Liquidators of Bermuda-registered Carolina Reinsurance Ltd. have filed a civil lawsuit in the United States against the firm's shareholders and auditor.They are seeking damages for tens of millions of dollars of dividends they claim were taken out of the company when it was insolvent.

Auditor Deloitte & Touche seeks to avoid Carolina Re depositions

Deloitte & Touche is attempting to prevent the liquidators of Bermuda-registered Carolina Re from deposing five of its staff, including two based in Bermuda.Carolina Re's auditor has already lost one motion to quash subpoenas of its employees at the United States Bankruptcy Court for the Southern District of New York and is now seeking leave to appeal.

Carolina Re is forced into liquidation

Losses from the World Trade Center terrorist attack have claimed their first victim in Bermuda, with the forced liquidation of Carolina Reinsurance Limited.Carolina Re was a Class 3 insurer that was formed in Bermuda in 1984 and managed by Westbroke Ltd., which is operated by the law firm of Conyers, Dill & Pearman.

Carolina Reinsurance Ltd.: Section 304 Petition

Section 304 Petition for Assistance in Insolvency Proceedings in Bermuda by Gareth Hughes and John McKenna, as the Foreign Representatives of Carolina Reinsurance Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Insolvent New Cap Re goes into provisional liquidation

Accountant John McKenna, of Ernst & Young, was this month appointed provisional liquidator of New Cap Reinsurance Corporation (Bermuda) Limited.His appointment on April 22 followed a petition brought at Bermuda Supreme Court by the island's Registrar of Companies, Kymn Astwood.In