Following Money Trail, Caribbean Insurer Files Ch. 15

Law360, New York (April 29, 2009, 12:00 AM EDT) -- The court-appointed liquidator for Clico Bahamas Ltd., a Bahamian life and health insurance company owned by one of the largest financial conglomerates in the Caribbean, has filed a Chapter 15 bankruptcy petition seeking permission to investigate the company's U.S. assets, including at least $70 million Clico invested in several South Florida real estate developments.

In a Chapter 15 petition filed Monday in the U.S. Bankruptcy Court for the Southern District of Florida, Craig A. Gomez asked the court to recognize Clico’s insolvency proceeding currently pending before...
To view the full article, register now.