GTE Re applies to wind-up Belvedere Insurance in dispute over $9M fee

By David Marchant

26 years ago

Topics

Bermuda Insurance Liquidations & Insolvencies

Keywords

Belvedere Insurance Bermuda Insurance Market GTE Re Liquidations & Insolvencies

A dispute between Belvedere Insurance and GTE Reinsurance Company, which are both based on the island, turned ugly this month when the latter applied to Bermuda Supreme Court to have the former wound up.
The irony of GTE Re’s application is that the company is believed to be a net debtor of Belvedere’s, rather than a net creditor.

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