Life Insurance Buyer Gets New Ch. 11 Stalking Horse Bidder
Law360 (February 14, 2019, 10:33 PM EST) -- A bankrupt purchaser of life insurance policies from wealthy policyholders announced Thursday that it will pursue a Chapter 11 auction of its portfolio of policies with a $5.65 million offer from a new stalking horse bidder that proposes less costly bid protections than a prior offer did.
In a notice filed with the Delaware bankruptcy court, Life Settlements Absolute Return I LLC said it is replacing its former stalking horse bidder with The Settlement Group Inc. after determining that its offer is “significantly more beneficial to the debtors’ estates.”
A prior stalking horse offer from BPCP Life Settlement LLC also proposed...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!