Legal
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Avenue Capital-backed Greylag claimed that insurers denied coverage of the two lost aircraft, which have a value of nearly $110mn and $120mn, respectively. -
A worldwide freezing injunction was issued to Alex and Robert Finch, the former directors of AFL Insurance Brokers, after they were found to have committed fraud.
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The former owners of AFL Insurance Brokers have been ordered to pay damages totalling £6.1mn after being found guilty of fraud and of breaching director duties.
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In total, 242 claimants have launched legal action against a group of eight insurers.
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The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff.
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A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.
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The football club initially sued the broker for £10mn in a claim connected with the death of the footballer in a 2019 plane crash.
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In the initial court documents, Aon alleged its rival broker and former head of PFI “conspired unlawfully” to recruit key members of the team.
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Court filings indicate use of “phony phone numbers” and creation of a “wholly fictitious person” in the letters of credit fraud that has engulfed Vesttoo.
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The landmark settlement was approved by the US Department of Commerce and the US Department of the Treasury and was not in breach of any sanction regimes, AerCap said.
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A committee of unsecured debtors was appointed, including Markel, Clear Blue, Porch’s HOA, United Automobile Insurance and Proventus.
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The Aon transformer is seeking information on the origins of alleged fraudulent letters of credit.
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