Legal
-
The company’s litigation was one of the most high-profile cases relating to Covid-19 business interruption. -
The DoJ also hit rival reinsurance broker Tysers with a $36mn penalty and administrative forfeiture of around $10.5mn.
-
Chief of IRS Criminal Investigation said Tysers had "eroded the process of fair and open competition".
-
Chubb declared at the last minute that it would not contest the English court’s jurisdiction, in contrast to every other reinsurer being sued by aircraft lessors.
-
The Trustee had sought to accelerate the liquidation process while avoiding significant admin costs.
-
Under the agreement, reached late on Monday, Vesttoo would sell its assets in a transaction that would close by December 1, 2023.
-
The former employees are accused of co-ordinating an “unlawful” team move and conspiring to steal clients.
-
The beleaguered firm claims its creditors are unsympathetic around delays due to the Israel-Hamas conflict.
-
In a motion filed Friday, the trustee requested to convert Vesttoo’s Chapter 11 case to Chapter 7 so that “an independent fiduciary can wind down the debtor’s affairs and avoid significant administrative costs”.
-
Celestial Aviation Services received $501.5mn relating to 14 aircraft that were stranded in Russia as a result of the ongoing conflict with Ukraine.
-
The eight-day trial will look at prevention of access wordings, policy limits and furlough payments.
-
Earlier today, in a bid to accelerate liquidation, the company’s unsecured creditors requested early termination of the exclusivity period granted Vesttoo to develop a reorganization plan.
Most Recent
-
Apollo writes first Smart Follow lines ahead of 1.1 launch
30 November 2023 -
Liberty Specialty Markets US terrorism head Rubin leaves for BHSI
30 November 2023 -
MS Amlin promotes Forsyth to head of marine
30 November 2023 -
Apollo and Sompo International enter aviation war market
29 November 2023 -
WTW strengthens in contingency with Guy Carp’s Anscombe and Corrigan
29 November 2023