Liquidation recommended for CBL Corporation
Administrators say it is in the interests of creditors for the company, which is linked to Alpha Insurance, to liquidate ahead of watershed meeting.
CBL Corporation, the parent company of Ireland-based CBL Insurance Europe and CBL Insurance in New Zealand, should go into liquidation according to voluntary administrator KordaMentha.
The administrators stated in a creditor report that no restructuring proposals had been put forward yet and advised that it would be in the “best interests” of creditors to place the business into liquidation.
The recommendation was made ahead of a ‘watershed’ meeting that will see creditors vote on the future
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