Markel Bermuda named as Vesttoo creditor over fraudulent LOCs
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn

© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement



Markel Bermuda named as Vesttoo creditor over fraudulent LOCs

OLD DONT USE OLD

Markel Bermuda has been appointed to the statutory committee of unsecured creditors in Vesttoo’s Delaware bankruptcy over two collateralized reinsurance transactions involving fraudulent letters of credit.

“The company currently does not expect that losses arising from these fraudulently tendered letters of credit will have a material adverse impact on its results of operations, financial condition or liquidity,” Markel, the insurance subsidiary of Markel Group, said...

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Gift this article