Legal action by a New York investment bank has coincided with a pause in the expansion plans of distressed asset player Tiptree Marine.
The Stefanos Kasselakis-headed company is a subsidiary of Nasdaq-listed insurance underwriter Tiptree Inc and is the controlling shareholder in SwiftBulk Holding and SwiftTanker Holding.
In a series of legal actions in US federal and New York state courts, Silver Leaf Partners has alleged it was never paid for its work in putting together Tiptree Marine and originally demanded up to $22m in actual and punitive damages based on...
