Platinum Receiver Settles With Insurers For $14M

Law360 (July 2, 2020, 6:43 PM EDT) -- The receiver for defunct hedge fund Platinum Partners agreed to pay around $14 million to settle with insurers that say Platinum owed them more than $44 million, a move the receiver said eliminated one of the biggest obstacles to investors finally recouping some of their losses.

Receiver Melanie Cyganowski sought court approval on July 1 for settlements with Bankers Conseco Life Insurance Co. and Washington National Insurance Co., as well as Senior Health Insurance Co. of Pennsylvania.

The U.S. Securities and Exchange Commission tapped Cyganowski as receiver in 2017 to unwind several Platinum entities and make investors whole in the wake...

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