Minster, Malvern Insurance Seek Ch. 15 Protection

Law360, New York (July 20, 2010, 4:56 PM EDT) -- Minster Insurance Co. Ltd. and Malvern Insurance Co. Ltd. have asked a bankruptcy judge to issue a ruling that their blueprints for paying off creditors, which have already won court approval in the U.K., are binding on creditors in the U.S.

The London-based companies filed Chapter 15 petitions in the U.S. Bankruptcy Court for the Southern District of New York on Tuesday. Minster, which court papers say acquired Malvern in 1961, listed assets and liabilities each in the $100 million to $500 million range. The cases...
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