German Reinsurer Seeks Ch. 15 Protection

Law360, New York (December 11, 2008, 12:00 AM EST) -- German reinsurer Global General and Reinsurance Co. Ltd., formerly the sixth largest reinsurance company in the world, has filed for Chapter 15 protection in the U.S.

Thomas Klaus Freudenstein filed the petition on Wednesday in the U.S. Bankruptcy Court for the Southern District of New York as the foreign representative for U.K.-based Global General and Reinsurance Co. and its parent company Globale Ruckversicherungs AG, based in Cologne, Germany.

The filing indicated liabilities of more than $100 million and assets of more than $100 million. The company...
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