Reinsurance Firm Hits Ch. 11 With Plans To Restructure Debt

Law360, Wilmington (January 29, 2018, 9:31 PM EST) -- Reinsurance firm Scottish Holdings Inc. filed for Chapter 11 protection late Sunday in Delaware with a plan to sell its equity free and clear of more than $30 million in interest liabilities the company says it won't be able to pay.

In a first-day declaration, Scottish Holdings CEO Gregg Klingenberg said the debtor and its affiliates are in the business of assuming the risks associated with insurance policies issued by other companies in exchange for receiving a portion of the premium payments owed to the underwriting...
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