Issues For Secured Creditors In Insurance Insolvency

Law360, New York (November 17, 2010, 3:36 PM EST) -- There is often misunderstanding, frustration and occasionally anger when worlds collide. In the case of banking institutions dealing with the unique world of insurance insolvency, the results may not be as dramatic as other cultural clashes, but they can be equally confused. This is because insurance insolvency operates in its own separate world, where the usual rules of bankruptcy do not apply and, without appropriate safeguards, having a secured claim may not guarantee repayment. For banks and other secured creditors, lending to insurance companies is governed...
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