Insurers Say Platinum Receiver's Fraud Claims Are Flawed

Law360, New York (August 15, 2019, 9:20 PM EDT) -- Multiple entities and individuals tied to Platinum Partners or its purportedly affiliated reinsurance company Beechwood on Thursday urged a New York federal judge to dismiss claims brought by the receiver for the defunct hedge fund or third parties, calling the claims deficient.

U.S. District Judge Jed Rakoff spent the better part of the day hearing oral arguments in a courtroom full of lawyers in litigation brought by the receiver for multiple Platinum entities against scores of Platinum-connected parties, who are accused of benefiting from the purported fraud scheme that led to Platinum’s high-profile collapse.

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