Lifetrade Deal Was Ploy To Ditch $140M Claims, Suit Says

Law360, New York (January 16, 2013, 4:19 PM EST) -- Two London underwriters sued Lifetrade Management Co., life settlement broker American Viatical Services LLC and others Monday, claiming they had orchestrated a buyout of AVS to transfer assets and avoid paying $140 million in legal claims. 

Goshawk Dedicated Ltd. and Kite Dedicated Ltd., which were members of a Lloyd's of London syndicate, accuse Lifetrade, AVS, Longevity Partners LLC and their affiliates of improperly diverting AVS' assets to escape damages in Goshawk and Kite's long-running lawsuit alleging AVS misrepresented life expectancies.

Monday's suit, brought under the Uniform...
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