Articles Tagged with FINRA Arbitration Attorney

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.