Following Money Trail, Caribbean Insurer Files Ch. 15

Law360, New York (April 29, 2009, 12:00 AM EDT) -- The court-appointed liquidator for Clico Bahamas Ltd., a Bahamian life and health insurance company owned by one of the largest financial conglomerates in the Caribbean, has filed a Chapter 15 bankruptcy petition seeking permission to investigate the company's U.S. assets, including at least $70 million Clico invested in several South Florida real estate developments.

In a Chapter 15 petition filed Monday in the U.S. Bankruptcy Court for the Southern District of Florida, Craig A. Gomez asked the court to recognize Clico’s insolvency proceeding currently pending before...
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