Aiding, Abetting Claims Dismissed Against Investment Holding Company in Beechwood Re Case

NEW YORK — A New York federal judge has dismissed a receiver’s aiding and abetting claims against an investment holding company in a fraud case involving an offshore reinsurance company, a Pennsylvania insurer and the Platinum Partners hedge fund.

In an April 15 order, Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York found the evidence does not show that PB Investment Holdings Inc. “substantially assisted” the alleged breach of fiduciary and fraud.

In the early 2000s, Mark Nordlicht, Murray Huberfeld, and David Bodner founded an affiliated group of hedge funds called “Platinum …