The liquidators of CBL Corporation have published their first report on the New Zealand-based insurers financial position, showing that it owes more than $179 million to creditors.
Kordamentha, the appointed liquidator, stated that preferential creditors are owed $566,766, secured creditors are owed $6,617,438 and unsecured creditors are owed $172,801,592.
CBL Corporation was placed in voluntary administration on February 23, 2018. During the administration period, administrators commenced sale processes for some of the groups businesses. Now, liquidators said they are continuing with the sale processes for some of the insurers assets, which remai…
Read the full article at: https://www.insurancebusinessmag.com/nz/news/breaking-news/collapsed-cbl-owes-creditors-179-million-169703.aspx
