Legal

The Aon unit noted 37 LOCs “purportedly procured by China Construction Bank (CCB), Banco Santander and Standard Chartered Bank US”.

The company’s Monday statement is the latest development in a debacle that could potentially lead to a major loss event for the utility company’s casualty insurers.

Following the initial decision in the case, Julia Sommer sought £5.1mn in compensation for the claims she made against her former employer.

Vesttoo has filed documents at the Bankruptcy Court for the District of Delaware that seek an automatic stay against White Rock and its putative liquidators.

The company's Ebitda for 2022 was estimated at $60mn compared to $20mn in 2021.

Recent filings show that 25 new cases regarding Ukraine aviation losses from plane lessors have been lodged against insurers in the UK High Court.

The broker argued that it was not “reasonable” to overstep its position as broker to Greensill, the failed supply chain finance firm, and provide certain information to White Oak.

The firm’s interim CEO Ami Barlev has argued that, with Vesttoo’s weekly expenses being $360,000, freezing assets above $1m would be “catastrophic for the company”.

The ILS transformer platform claims Vesttoo is in breach of shareholder agreements.

Guy Carpenter has succeeded in bringing Ronda into the suit, while Baotic and Nicosia will not be added.

The co-founders will be on paid leave until a final decision is taken.

The legal action follows the resignation of 38 of Guy Carpenter’s European staff to join Howden Tiger.