BlueCrest’s fund told the Bermuda court that it initially received a message from a Kenbelle executive accepting the redemption request, according to the people with knowledge of the suit. The expected payout date came and went.
The lawsuit, which claims American Revival violated agreements, doesn’t name Whitney or any executives as defendants, and seeks to redeem the stake along with unspecified costs and other relief, the people said.
“I will tell you, she feels insulted,” Arkin said. “She really feels offended.”