Triad Guaranty Seeks Ch. 11 Amid Shareholder Suit

Law360, Wilmington (June 4, 2013, 7:36 PM EDT) -- Mortgage insurer Triad Guaranty Inc. filed for Chapter 11 protection Monday in bankruptcy court in Delaware, months after its subsidiary in Illinois was placed into state rehabilitation and days after a federal judge in North Carolina refused to dismiss a shareholder lawsuit claiming it violated securities laws.

The North Carolina-based company listed liabilities of up to $50,000 and assets of between $100 million and $500 million, a figure that includes the value of its subsidiary, which is likely out of Triad's reach because it's under the...
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