vesttoo
1 September 2023Insurance

Markel jumps into Vesttoo bankruptcy case over $128m fraudulent LOCs

Global specialty insurer  Markel’s Bermuda subsidiary has entered the  Vesttoo Chapter 11 bankruptcy proceedings in the US court, seeking remedies against potential losses resulting from fraudulently tendered letters of credit (LOC) valued at $127.75 million.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Week Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
29 June 2026   Falling rates, rising capacity could create a short-lived opportunity for insureds.
Insurance
29 June 2026   Proceeds ‘may include the repayment of indebtedness’.
Insurance
26 June 2026   High-speed legal brawl puts Acrisure’s California playbook into clearer focus.