Investors Can Still Pursue Damages from Bankoh, Truist, and Ocean Financial Services
The Bermuda Supreme Court has turned down a request by Northstar Financial Services (Bermuda) Ltd.’s management asking for more time to pursue restructuring. Northstar had filed for Chapter 15 bankruptcy last year.
The Court’s ruling means that the company will be liquidated, with the proceeds going to creditors. Specifically, what this means for Northstar Financial Services (Bermuda) investors is that the Bermuda Supreme Court must approve such payments before they can be issued to them.