Archive

Lloyd's unveils letter of credit exposure limits

CFO Burkhard Keese said letters of credit present the most material exposure to the market

Vesttoo trustee's bid to convert bankruptcy case denied

US Trustee submits request for Vesttoo Chapter 7 liquidation

Vesttoo hits back at creditors seeking early termination

Interim CEO Ami Barlev says liquidation request is "sensationalist"

Vesttoo wins court order foreclosing on assets of co-founders and execs

A Tel Aviv court approved the foreclosure on assets totalling over $30m

Vesttoo claims "pervasive and systemic misconduct" among execs

The Israeli headquartered firm has released an interim report in US bankruptcy court

Lloyd's has no concerns about fraudulent letters of credit

Vesttoo claims "external" source of collateral fraud

The firm said its investigation is in advanced stages

Vesttoo starts Chapter 11 bankruptcy proceedings

Firm says move will give it breathing room to pursue legal actions

External factors led directly to Vesttoo crisis, says interim CEO

Ami Barlev gave initial findings of the firm's ongoing investigation