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Articles Bermuda Featured Fraud Insurance Liquidations & Insolvencies USADecember 31, 2003

Japanese insurer awarded $1 b against Fortress Re

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21 years ago

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Bermuda Fraud Insurance Liquidations & Insolvencies USA

Keywords

Andrew Maneval Bermuda Insurance Market Caleb Fowler Conyers Donald Farnan
Kenneth Kornfeld Leeor Sabbah Liquidations & Insolvencies Maurice Sabbah Paul Dassenko Rhonda Kornfeld Sompo Japan Insurance The American Hebrew Academy Inc. The Sabbah Family Foundation Inc. and The Oklahoma City Community Foundation Inc. Zmira Sabbah
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An arbitration panel sitting in New York has awarded more than $1 billion against failed aviation reinsurance pool manager Fortress Re Inc., of North Carolina.
In a decision issued on December 16, 2003, the panel found that Fortress Re and its principals, Maurice Sabbah and Kenneth Kornfeld perpetrated a massive fraud against Sompo Japan Insurance Inc.