Amended Complaint Permitted in $4.5M Fraudulent Transfer Action

ORLANDO, Fla. — A Florida federal judge has allowed Barents Reinsurance S.A. to amend its complaint a second time, in which it accuses Truist Bank of negligently allowing $4.5 million in reinsurance proceeds to be fraudulently transferred to a scammer.

On Aug. 2, Judge Anne Conway of the U.S. District Court for the Middle District of Florida ruled that amendment is not futile given the addition of new defendants, bank of New York Inc. (BONY) and EFG International AG.

Barents moved to dismiss the second amended complaint on Aug. 19, arguing that Barents has no direct cause of action against …