MIAMI, July 20, 2021 / PRNewswire / – Shepherd Smith Edwards and Kantas continue to sue brokerage firms whose registered representatives have mis-recommended and sold Northstar Financial Services (Bermuda) products to their customers.
We have already filed several FINRA arbitration requests against brokers on behalf of investors.
We also continue to follow the liquidation proceedings that the Bermuda Supreme Court initiated after rejecting Northstar Financial Services (Bermuda) Ltd. takes more time to restructure. The company filed for Chapter 15 bankruptcy in 2020.
The next step is an audition on July 26, 2021. The Court should put in place a process for Northstar account holders to be informed whether the variable and fixed accounts are to be treated as separate accounts under UK Island Territory law.
Northstar Financial Services (Bermuda) sold various insurance and investment products, with both fixed and variable rate annuity products, including:
- Global Interest Accumulator
- Global VIP Elite
- Global Advantage Select
- Global Advantage Plus Series
- Global index product
However, given the company’s financial difficulties, investors are unlikely to recover much unless they have experienced legal assistance. Many investors have suffered six-figure losses in these off-shore products, which their brokers have presented to them as safe investments. The estimated total losses are said to be over $ 70 million.
Even after Lindberg was indicted on criminal charges in 2019, many companies and their brokers never bothered to inform investors of this development or to withdraw them from these investments.
SSEK Law Firm is committed to helping Northstar Financial Services (Bermuda) investors to recover their losses from companies that have inappropriately sold these off-shore products, including:
Adequacy, misrepresentation and omissions, over-concentration, gross negligence and lack of oversight are some of the allegations we have already made against these companies in FINRA arbitration on behalf of our clients.
The law firm SSEK is currently fighting for Northstar Financial Services (Bermuda) investors in the United States, across America and Asia. To speak with an experienced securities arbitration lawyer to discuss your Northstar financial services (Bermuda) losses, please contact us below.
Kirk smith, [email protected]
Toll Free in the United States: (800) 259-9010
Mexico Toll Free: (800) 283-3403
International via WhatsApp (text only): 713-227-2400
Northstar Bermuda FAQ
Northstar Bermuda Preguntas Frecuentes
SOURCE Shepherd Smith Edwards & Kantas LLP