Zurich Buries Bond Claims In Orleans Ch. 11

Law360, New York (February 7, 2011, 3:26 PM EST) -- Zurich American Insurance Co. and the official committee of unsecured creditors in Orleans Homebuilders Inc.'s Chapter 11 have resolved their dispute over all but one of the insurer's 60 unsecured claims related to its issuance of surety bonds.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware issued an order Friday approving the parties' stipulation resolving objections to 59 of Zurich's claims raised in the committee's fifth omnibus objection to claims.

Under the agreement, 59 of Zurich's 60 proofs of claims...
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