David Thirkill

Scandinavian Re accuses arbitrators of misconduct after losing $290 m decision

February 24, 2010

Scandinavian Re has accused two arbitrators of bias and "lying" or "misleading" after they ruled against the Bermuda based finite risk reinsurer in a $290 million dispute with The St. Paul Companies.Allegations of misconduct against Connecticut based arbitrators Paul Dassenko

Judge voids ‘irrational’ $6 m arbitration award for Platinum Underwriters

November 2, 2009

Describing it as "completely irrational", a federal judge in Philadelphia has vacated a $6 million arbitration award in favor of Platinum Underwriters Bermuda Ltd.In a ruling on September 15, 2009, U. S. District Judge Paul S. Diamond granted a motion

PMA group seeks to vacate $6 m arbitration award in favor of Platinum Underwriters

June 25, 2009

The PMA insurance group has filed a petition at federal court in Philadelphia to vacate a $6 million arbitration award issued in favor of Platinum Underwriters Bermuda Ltd. on May 22, 2009.The petition was filed by PMA Capital Insurance Company,

Florida businessman indicted, Stirling Cooke ordered to place $500,000 into escrow

July 31, 1998

Businessman David Sanz was criminally indicted in the US last month to face charges of racketeering, grand theft and fraud in relation to Florida-based Gulf Atlantic Management Group Inc., which he owned. The offences include an allegation that Sanz illegally stripped off millions of dollars from GAMG over several years and, in a final flourish as the regulatory net closed in, sold its entire book of business of GAMG and that of a related company to Stirling Cooke Insurance Services for $1 million.

Resource Underwriters appears to have been turned down by Bermuda’s regulators

November 30, 1997

An application to incorporate Resource Underwriters, the proposed $300 million reinsurer fronted by Robin Spencer-Arscott, appears to have been turned down by Bermuda's regulators.The Admissions Committee of the Insurance Advisory Committee met on November 7 to determine the fate of the company, said sources.

Credibility concerns hold up Resource Underwriters

October 31, 1997

Concerns about the credibility of some of the people involved are holding up the formation in Bermuda of Resource Underwriters, a new $300 million reinsurer whose front-man is Robin Spencer-Arscott.

David Thirkill tries to raise $150 m for new insurer

July 19, 1993

Former Focus Insurance director David Thirkill is planning to raise $150 million to start a new financial or finite risk insurance company on the island.The company, which has not yet been incorporated, is to be called Stellar Insurance — a name that Mr Thirkill said had already been reserved.

Focus directors fail to have lawsuit struck out

May 13, 1993

Bermuda Supreme Court Chief Justice Sir James Astwood has refused to strike out a civil action started last summer by the liquidators of Focus Insurance against its former directors and officers.He has ruled that the action contains allegations which, if proved at trial, could show that the directors deliberately disregarded their legal duty to Focus and failed to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.

Privy Council asked to rule on level of competence expected of Bermuda directors

December 30, 1992

The Privy Council, the highest court of appeal for litigants in British colonies, is to be asked to rule on the nature and standard of skill, care and expertise which the law requires of directors and officers of Bermuda-based companies.The appeal by Focus Insurance Company liquidators could affect every corporation registered here and may ultimately produce a landmark decision in the development of Bermuda's company law.However, the Privy Council application relies on liquidators David Lines and Peter Mitchell first obtaining leave to appeal a Court of Appeal judgment handed down November 25.

David Thirkill speaks of relief after Bermuda court strikes out negligence action

November 25, 1992

Former Focus Insurance director David Thirkill is feeling "relieved and vindicated" in the wake of an Appeal Court decision striking out a $20 million civil action started against him by Focus liquidators.The liquidators began the action in the summer of 1990 when they sued Focus' directors and officers for willful negligence and breach of fiduciary duty.The Appeal Court decision, handed down on Monday, overturns a ruling by Chief Justice Sir James Astwood who this year refused to dismiss the suit, ruling that it contained assertions which, if proved at trial, would show the directors deliberately disregarded their duties.

Six defendants added to Focus Insurance lawsuit in Bermuda

May 20, 1992

Six new defendants who have been added to a suit against the former directors and officers of Bermuda-based Focus Insurance Ltd are not being accused of willful negligence or breach of fiduciary duty - the central allegations in the civil complaint now being brought by Focus' liquidators David Lines and Peter Mitchell.