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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