Standard & Poors

Equite Capital Pte Ltd. v. S&P Global Inc. et al: Writ of Summons (2023)

August 17, 2023

Write of Summons in Equite Capital Pte Limited, of Singapore, as "the assignee of all rights, title and interests to and in certain claims or causes of action that the Cayman Islands exempt companies, Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd. (now dissolved) and the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund Ltd. (now dissolved), had against certain credit rating agencies" v. S&P Global Inc. and Standard & Poor's International LLC, both of New York, USA, at the Grand Court of the Cayman Islands.

S&P sued for $5B in Cayman for ‘investment losses caused by deceitful CDO ratings’

February 19, 2023

Three Standard & Poor's entities in England and the United States are being being sued for $5.1 billion in the Cayman Islands regarding alleged investment losses suffered by Fortis Bank as a result of 'deceitful' S&P ratings of collateralized debt obligations.

Equite Capital Pte Ltd. v. S&P Global Inc. et al: Writ of Summons (2021)

February 2, 2021

Writ of Summons in Equite Capital Pte Limited, of Singapore, described as "the rightful owner of all right, title and interest in claims or causes of action of the Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd. (In Official Liquidation) and the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund Ltd. (In Official Liquidation)" v. S&P Global Inc. and Standard & Poor's International LLC, both of New York, NY, USA, at the Grand Court of the Cayman Islands.

Bermuda insurers on-notice after investors sue Schwab, S&P and Moody’s over mortgage fiasco

April 18, 2010

AXIS Specialty, Allied World Assurance Company, XL Insurance (Bermuda), Endurance Specialty and Arch Insurance are among several insurers facing potential exposure in a civil complaint filed in California against Charles Schwab, Moody's Investor Services Inc. and Standard & Poor's Financial

Insider Talking: October 5, 2009

October 5, 2009

A High Court judge in St. Lucia has quashed a dubious decision by the Government of St. Lucia to protect a Government Minister, Keith Mondesir, after he was apparently caught trying to avoid customs duty on household items that he

Bermuda insurers register interest in class against Morgan Stanley & rating agencies

February 23, 2009

Three insurers with Bermuda connections will be closely watching a securities class action complaint filed against rating agencies McGraw Hill Companies, which owns Standard & Poor's, and Moody's Corp. investment bank Morgan Stanley and others in California.Allied World Assurance Company

Standard & Poor’s downgrades Centre Solutions Group

February 29, 2004

The shareholders' equity of Centre Solutions (Bermuda) Ltd. fell by 32 per cent in the first nine months of 2003, according to figures released by ratings agency Standard & Poor's. The decline from $914.9 million on December 31, 2002 to $620 million on September 30, 2003 came despite $225 million in capital contributions from its parent, Zurich Financial Services Group, stated S&P.

Problems worsen at Mutual Risk Management

December 31, 2001

Mutual Risk Management's problems worsened in December when the firm announced that it expects to report a fourth-quarter loss after putting aside $30 million to pay larger than expected claims.This prompted an immediate negative response from credit rating agencies, with Standard & Poor's raising "concerns" about the ability of the firm's management to pull it through its crisis.