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ChinaCast Bankruptcy Can't Stop Insurance Payout: Creditors

Law360, New York (September 18, 2017, 9:31 PM EDT) -- ChinaCast Education Corp. creditors asked a New York bankruptcy judge on Monday to find that their $66 million securities class action judgment against the company the day before its bankruptcy filing must be paid out by insurers despite a bankruptcy litigation stay.

Creditor Jayhawk Private Equity Fund II LP, representing a certified class, asked U.S. Bankruptcy Judge Mary Kay Vyskocil to rule that the bankruptcy stay in ChinaCast's Nov. 9 bankruptcy didn't apply to Jayhawk's pursuit of judgment money from $15 million worth of insurance policies....
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