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Platinum Partners Insurer Wants Out Of Receiver's RICO Suit

Law360 (May 15, 2019, 4:42 PM EDT) -- One of the Platinum Partners insurers accused by the defunct fund’s receiver of racketeering says the receiver’s “far-fetched” version of Platinum’s collapse suggests the insurer intended to victimize itself.

Senior Health Insurance Co. of Pennsylvania asked a New York federal judge on Tuesday to be dropped from the suit brought by Melanie Cyganowski, the receiver for Platinum Partners Credit Opportunities Master Fund LP and its related entities, who is hoping to hold Platinum’s insurers liable as “willing participants” in a scheme to pull Platinum’s assets into a reinsurer that the fund itself quietly controlled.

SHIP claims it invested more than $300...

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Case Title

Subscribers Only

Case Number

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Court

New York Southern

Nature of Suit

Racketeer/Corrupt Organization

Judge

Subscribers Only

Date Filed

December 19, 2018

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