Chartis Excess To Wind Down For Parent AIG's Sake

Law360, New York (March 26, 2013, 6:04 PM EDT) -- Chartis Excess Ltd., an Irish member of American International Group Inc. filed for bankruptcy protection in New York on Monday, saying it will wind down as part of a reorganization plan intended to make AIG more simple and transparent.

The Dublin-based insurer asked the bankruptcy court in Manhattan to grant recognition to its bankruptcy proceedings now under way in Ireland. The insurer, which writes business insurance policies, intends to shuffle current policies to other entities within AIG and liquidate itself, it said in a court filing....
To view the full article, register now.