Frank Watson

A Bermuda-licensed insurer that is insolvent by an estimated $7 million forged a fake accounting document in the name of Deloitte & Touche in the Cayman Islands to try to convince regulators it was solvent, according to its provisional liquidators.The alleged ploy did not work, however, and Hatteras Reinsurance Limited was petitioned into provisional liquidation “in the public interest” by the Bermuda Monetary Authority at Bermuda Supreme Court on June 7, 2006.

Notice of Filing of Statement of Financial Affairs and First Report to Creditors in the matter of Hatteras Reinsurance Ltd. at the U. S. Bankruptcy Court for the Southern District of New York.