Teneo Appointed As JPLs Of Vesttoo Alpha P&C
Michael Morrison and Charles Thresh of Teneo [Bermuda] Limited were appointed as Joint Provisional Liquidators [JPLs] of Vesttoo Alpha P&C Ltd.
A spokesperson said, “Michael Morrison and Charles Thresh, both Senior Managing Directors of Teneo [Bermuda] Limited were appointed as Joint Provisional Liquidators [JPLs] of Vesttoo Alpha P&C Ltd. [Vesttoo Alpha], on 2 August 2023, by Order of the Supreme Court of Bermuda following a petition by the Bermuda Monetary Authority [BMA], the Company’s regulator. Vesttoo Alpha operated as a Bermuda registered collateralised insurer and is connected with the Vesttoo ILS InsurTech group.”
Michael Morrison, Co-Chair of Teneo’s International Financial Centres practice and one of the JPLs, said: “Following the Authority’s petition to Court for the appointment of Joint Provisional Liquidators to Vesttoo Alpha, Charles Thresh and I were subsequently appointed on 2 August 2023 by Order of the Supreme Court of Bermuda. Following our appointment as JPLs, we will, amongst other matters, realise the Company’s assets for the benefit of relevant stakeholders and conduct investigations into the Company’s affairs”.
