Elton Parker

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Allegations

Carolina Re insiders sued over $485 m dividend payouts

The Joint Liquidators of Bermuda-registered Carolina Reinsurance Ltd. have filed a civil lawsuit in the United States against the firm's shareholders and auditor.They are seeking damages for tens of millions of dollars of dividends they claim were taken out of the company when it was insolvent.

Auditor Deloitte & Touche seeks to avoid Carolina Re depositions

Deloitte & Touche is attempting to prevent the liquidators of Bermuda-registered Carolina Re from deposing five of its staff, including two based in Bermuda.Carolina Re's auditor has already lost one motion to quash subpoenas of its employees at the United States Bankruptcy Court for the Southern District of New York and is now seeking leave to appeal.