-
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.
-
The settlement would resolve claims that Allstate defrauded shareholders by underreporting “skyrocketing” auto claims to artificially boost the stock price, which later crashed.
-
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.
-
The co-founders will be on paid leave until a final decision is taken.
-
The broker said it believes it has meritorious defenses and intends to vigorously fight the claims and seek recourse against third parties where appropriate.
-
The fronting company said impairment to Vesttoo’s LoC collateral will be "immaterial".
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The suit is related to the violation of a non-disclosure agreement between the parties.
-
The supply-chain finance firm dramatically collapsed in 2021 after its trade credit insurance was pulled.
-
The bishop’s insurance policies include general liability coverage, auto, employment practices, E&O, D&O, excess liability, cyber and sexual misconduct.