White Rock court filing says 37 LOCs with $2.35bn value believed to be fraudulent

Published: Wed 30 Aug 2023

A Delaware bankruptcy court filing by Aon’s White Rock asking a judge to reject the imposition of an automatic stay in its dispute with Vesttoo claims that “it now appears” that 37 letters of credit totalling $2.35bn used to support White Rock Bermuda transactions are fraudulent.