Things dont look good for CBL CORP FPO NZX (ASX: CBL), with the company placed in administration over the weekend. CBLs shares have been suspended since 6 February 2018, after entering a trading halt four days prior to that.
I wrote on the 5 February that the company had shocked shareholders by announcing it would take a $100 million hit to its future claims expenses, as well as writing off $44 million in receivables following its acquisition of broker SFS in 2017.
At the time I said that I thought the claims would cause CBL Insurance (CBL insurance is a
Things dont look good for CBL CORP FPO NZX (ASX: CBL), with the company placed in administration over the weekend. CBLs shares have been suspended since 6 February 2018, after e…
Read the full article at: https://www.fool.com.au/2018/02/26/why-cbl-corporation-just-entered-voluntary-administration-liquidators-appointed/
