Gordian Bids For Chapter 15 Recognition In U.S.

Law360, New York (July 24, 2006, 12:00 AM EDT) -- Nearly six years after slipping into insolvency, reinsurance underwriter Gordian Runoff (UK) Ltd. is seeking Chapter 15 recognition in a New York bankruptcy court in a bid to stave off claims by U.S. creditors.

The petition to recognize Gordian’s pending scheme of arrangement in the United Kingdom as its main court proceeding was filed earlier this month in the U.S. Bankruptcy Court for the Southern District of New York.

If approved, the Chapter 15 petition would allow Gordian to block creditors from pursuing their claims against...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.