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For Northstar Financial Services (Bermuda), Fixed-Rate Annuity Investors Filing A Broker Fraud Lawsuit May Be Only Option. Bermuda Supreme Court Order Deems That Fixed Account Holders Will Likely Recovery Nothing From Liquidation
In its July 28, 2023 ruling, The Supreme Court of Bermuda concluded that Northstar Financial Services (Bermuda) did not use any methods to keep track of or identify which funds or assets belonged to fixed-rate annuity policyholders. Because of this, there are no segregated funds for these investors to recover from the liquidation proceedings. What this means is, barring a separate legal claim for breach of contract against the insurer, these investors will likely receive nothing. The FINRA Arbitration Attorney team at SSEK are helping these investors.
This is all the more reason why Northstar (Bermuda) fixed-rate annuity investors need to explore their other legal options with Shepherd Smith Edwards and Kantas (investorlawyers.com) today. Since 2020, when Northstar Financial Services (Bermuda) filed for bankruptcy, we have been going after the brokerage firms that allegedly unsuitably recommended this offshore entity, misrepresented and omitted the risks, or overconcentrated investors’ accounts with these investments. Our clients include both fixed-rate annuity investors and variable-rate annuity investors from Latin America and Asia who have suffered significant losses in what many of them were told were safe, low-risk investments.
Instead, their US brokers earned high commissions and fees while recommending this offshore entity that didn’t come with the same protections as comparable US-based investments. Not only that but also Northstar (Bermuda) is owned by billionaire Greg Lindberg who is accused of defrauding annuity investors and has already spent time in prison for fraud. He is currently awaiting a retrial as well as a new trial for additional fraud charges.
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Why Fixed Annuity Investors Should Speak With Our Trusted Northstar Financial Services (Bermuda) FINRA Arbitration Attorney
You want to work with securities lawyers that are well-versed in these annuity products and can identify how broker misconduct or negligence may have contributed to your investment losses. Filing your own individual claim, separate from any liquidation or regulatory proceedings, is the best way to maximize your chances for a full financial recovery. You would do this by suing your brokerage firm in Financial Industry Regulatory Authority (FINRA) arbitration.
This is not the kind of investor loss claim you want to pursue without knowledgeable Northstar (Bermuda) loss lawyers by your side.
Already, Shepherd Smith Edwards and Kantas are representing Northstar (Bermuda) investors in over 100 FINRA lawsuits against dozens of broker-dealers. Our team of savvy annuity loss attorneys, legal assistants, and others bring over a century’s worth of combined experience in securities law and the securities industry to each client’s case.
How To Contact Us:
Should we agree to work together, you will benefit from being part of our unit of Northstar Financial Services (Bermuda) investment loss claims represented by all of us.
In the US: (800) 259-9010
Internationally via WhatsApp (text only): (936) 251-033