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Newest Northstar (Bermuda) Liquidation Report Is Another Sign That Investors Need To Explore Other Legal Options
Shepherd Smith Edwards and Kantas Represents Northstar Financial Services (Bermuda) Claimants Against US Brokerage Firms
In December 2025, the Joint Provisional Liquidators (JPLs) issued its Fourth Progress Report regarding its liquidation efforts with Northstar Financial Services (Bermuda), which filed for Chapter 15 Bankruptcy in December 2020. The 20-page report offers an overview of key workstreams undertaken by the JPLs. Unfortunately, they don’t appear to be any closer to getting Northstar (Bermuda) investors their money back. This is all the more reason that if you are someone whose US broker marketed and sold you these offshore annuities, you should start exploring other legal options while there is still time.
Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing many investors, including foreign nationals in China, Japan, Europe, and all over Latin America, in recouping their Northstar Financial Services (Bermuda) losses from the broker-dealers that should be held liable. Already, we have filed dozens of Northstar (Bermuda) lawsuits against these US-based firms in FINRA arbitration.
Northstar Bermuda Preguntas Frecuentes
Why Should Northstar Financial Services (Bermuda) Investors Consider Suing Their Broker?
Many international investors were sold these annuities by brokers whom they trusted to keep their money safe. A lot of these individuals are retirees and inexperienced investors who looked at the US as a safe haven for their money. Instead, quite a number of brokerage firms in this country proceeded to market and misrepresent Northstar (Bermuda) as a secure investment. In actuality, this was an unrated investment that lacked the protections that come with financial products on the mainland.
Northstar (Bermuda) owner Greg Lindberg has since been convicted of annuity fraud. But he was long suspected of funnelling money from his insurers to his more speculative entities long before then. This begs the question: if you are a broker, why sell this offshore investment to customers at all?
Even before Northstar Financial Services (Bermuda) sought bankruptcy protection, it could report only $8M in assets while having incurred a more than $260M deficit. Liquidation efforts have not yet proven fruitful for investors’ financial recovery, even though it has been years.
Brokers Profited While Investors Lost Money On Northstar (Bermuda)
Shepherd Smith Edwards and Kantas has found that dozens of brokers unsuitably recommended this illiquid investment to many customers while misrepresenting the risks. In our Northstar (Bermuda) lawsuits that we have filed on behalf of our Clients, they are also alleging negligence, gross negligence, overconcentration, failure to supervise, and more.
You want to work with seasoned Northstar Financial Services (Bermuda) recovery lawyers who understand why this investment failed and the reasons that brokerage firms should be held liable. Financial advisors earned a lot in terms of sales commissions. Meanwhile, many Northstar (Bermuda) investors are still struggling to recoup their money.
Fighting For Northstar (Bermuda) Investors Like You
It is important to know that bankruptcy proceedings seldom result in investors getting back much, if anything, at all. It is why you should strongly consider going after the brokerage firm that should have known better than to sell you these offshore investments.
Shepherd Smith has helped thousands of investors to collectively recoup many millions of dollars in damages in arbitration, mediation, and litigation. You do not have to reside in the United States for us to represent you.
Call (800) 259-9010 or fill out this online contact form today. International via WhatsApp: 713-227-2400 (text only).