Aon Subsidiary Asks N.Y. Federal Court To Secure Vestoo’s Assets Pending Arbitration

NEW YORK – A Bermudian subsidiary of Aon Ltd. has asked a New York federal court to issue a preliminary injunction to secure the assets of Vesttoo Ltd. pending the parties’ arbitration of a dispute over allegedly fraudulent letters of credit issued by Vesttoo that backed reinsurance transactions facilitated by the Aon subsidiary.

In an Aug. 10 petition filed in the U.S. District Court for the Southern District of New York, White Rock Insurance (SAC) Ltd. seeks to secure the assets of Vesttoo and its subsidiaries, which are held in bank accounts with Truist Bank, pending an arbitration of White …