MF Global’s Former Insurer Allied World Faces $15m Bond Reconciliation

[kreslik.news]

Doomed brokerage MF Global has once again found itself in the news after Allied World, one of its insurers, became entangle in a coverage dispute. In particular, Allied World was attempting to reconcile a coverage dispute from New York to Bermuda. However, in doing so, the insurer was determined to have been responsible for posting a $15 million bond by US bankruptcy judge.

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As per an ongoing legal battle, Allied World is on the hook for posting a $15 million bond for the amount the group would potentially owe MF Global – this ... (read more)