Allianz Affiliates Seek US Protection For UK Pool Runoff

Law360, New York (November 9, 2010, 6:45 PM EST) -- A bankruptcy judge has said he will grant recognition to reorganization proceedings for the now-dissolved, U.K.-based Camomile Underwriting Agencies Ltd. pool, including those involving two affiliates of German financial services giant Allianz Group.

Judge Stuart M. Bernstein held off from issuing a formal order on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, saying he preferred that the companies first address concerns regarding release language and other provisions.

"As a general matter, I am satisfied," the judge said, adding that the...
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