Northstar Bermuda
You Still Have Legal Options — Act Now!
Bixby Law obtained a $2,750,000+ arbitration award for Northstar variable account holders
Northstar (Bermuda) entered liquidation in 2020 with estimates of as much as $260 million or more in investor losses. If a U.S. broker-dealer sold you these products, FINRA arbitration may provide a path to recovery.
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Now In Liquidation
Did you invest with Northstar? Fixed-account investors hold claims totaling ~$305 million. Variable-account holders have claims of ~$121 million. The Bermuda liquidation process alone may return only a fraction — and on a slow timeline. FINRA arbitration against the broker-dealer that sold you the product may be a faster, independent path to recovery.
The Collapse
What Happened to Northstar?
The Company
Northstar Financial Services (Bermuda) Ltd. was established in 1998 and sold annuity and investment products — including the Global Interest Accumulator and Global Advantage Plus — to investors worldwide through U.S. broker-dealers. It was acquired in 2018 by Greg Lindberg's insurance empire.
The Collapse
As Greg Lindberg took over Northstar Bermuda, investment assets were placed into Lindberg-affiliated entities, and Northstar's financial condition deteriorated to where withdrawal requests were eventually not honored and redemptions were halted. Court-appointed Joint Provisional Liquidators were named in late 2020, and a Bermuda winding-up order followed in March 2021.
Greg Lindberg
Lindberg, the American businessman who acquired Northstar, admitted in November 2024 to a $2 billion fraud scheme — looting insurance company assets for his own affiliated companies. He has been convicted of bribery and fraud and faces up to 30 years in prison.
From Northstar's Own Website — November 2020
"IN THE MATTER OF NORTHSTAR FINANCIAL SERVICES (BERMUDA) LTD. – IN PROVISIONAL LIQUIDATION"
"Please be advised that by order of the Supreme Court of Bermuda, dated 25 September 2020, Rachelle Frisby and John Johnston of Deloitte Ltd. were appointed as Joint Provisional Liquidators (JPLs) of Northstar Financial Services Bermuda Ltd. (In Provisional Liquidation)."
Legal Options
You May Have a Claim Against Your Broker
What Went Wrong
- Northstar products were marketed as safe, income-generating investments
- Many investors were retirees who could not afford to lose principal
- Broker-dealers earned commissions recommending these products
- They had a duty to ensure products were suitable for your situation
- They had a duty to disclose risks — including the Lindberg connection
What You Can Pursue
- Breach of fiduciary duty — broker put commissions ahead of your interests
- Negligence — failure to perform adequate due diligence on Northstar
- Unsuitability — product not appropriate for your risk profile
- Fraud — misrepresentation of the product's safety and liquidity
- Failure to supervise — the brokerage firm's liability for its brokers
How FINRA Arbitration Works
File a Claim
We file a Statement of Claim with FINRA against the broker-dealer who sold you Northstar products. No court filing required.
Arbitration Hearing
A panel of arbitrators hears both sides. No jury. No years of court delays. Cases typically resolve within 12–18 months.
Award
If the panel rules in your favor, the broker-dealer must pay. Awards are binding and enforceable in federal court.
Bixby Law's Recent FINRA Arbitration Award
+ $748,213.60 in Legal Fees & Costs
FINRA Panel Orders Truist Investment Services to Pay Northstar Investor
In March 2026, a three-member FINRA arbitration panel in Seattle ordered Truist Investment Services to pay $2,003,607 in compensatory damages to an investor — plus $701,000 in legal fees and costs — for losses tied to Northstar Financial Services Variable products. The award included a full amount of the damages requested, including lost opportunity costs and investment returns, as well as attorney's fees and costs.
Past results do not guarantee future outcomes. Every case is different.
Find Out If You Have a Claim — Free ConsultationYour Attorney
Michael C. Bixby
Michael Bixby founded Bixby Law PLLC to represent investors defrauded by the financial industry. He has recovered more than $150 million for over 1,000 clients nationwide through FINRA arbitration and litigation. He has achieved numerous record-breaking FINRA Arbitration awards including a $19 million arbitration award for a Puerto Rico bond fund investor, a $3.8 million arbitration award in March 2026 for Florida investors in structured products, a $3.6 million arbitration award for private equity investments for international clients, and the first FINRA Arbitration award involving Northstar Bermuda — a $2.75M+ award.
In October 2025, Michael was sworn in as President of the Public Investors Advocate Bar Association (PIABA) — the national organization fighting for investor rights in securities arbitration. He previously served on the PIABA Board of Directors and as Co-Chair of the PIABA Arbitration Committee.
Michael Bixby is a member of the Florida Bar. His practice focuses on FINRA claims involving suitability, failure to supervise, fiduciary duty breaches, fraud, and theft — the exact type of claims available to Northstar investors.
Bixby Law PLLC
Common Questions
Frequently Asked Questions
What is Northstar JPL?
Can I still file a claim if Northstar is in liquidation?
Which broker-dealers sold Northstar products?
How long do I have to file a FINRA claim?
How much does it cost to pursue a claim?
Start Your Recovery
Find Out If You Have a Northstar Claim
Free, confidential consultation. Michael Bixby will personally review your situation and tell you whether you have a viable FINRA arbitration claim. No obligation. No fee unless you recover.
Request a Free Consultation