Orbit Underwriting administration period extended
Administrators hope to add to the £7.43m already raised from the firm.
Orbit Underwriting has had its administration period extended by a year.
Documents filed on Companies House revealed that administrators for the wholesale broker have set a new deadline of 1 November 2020. The administration period was originally due to end on 2 November 2019.
Administration proceedings are being overseen by CG & Co.
An administrator on the case told Insurance Age that the extension was solely to allow CG & Co more time to realise funds from the business.
The extension was
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