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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!