Gibraltar Insurer's Insolvency Plan OK'd After Collapse
Law360, London (June 3, 2019, 6:08 PM BST) -- Gibraltar's top court has appointed an official to manage the first stages of a leading personal injury and clinical negligence insurer's bankruptcy after the firm failed to find a line of credit and fell into insolvency.
The U.K. territory's Supreme Court approved Lamp Insurance Co. Ltd.'s insolvency plan on Friday and appointed an official receiver to parcel out the failed firm's remaining assets, the insurer said in a statement posted to its website.
Details of the plan were not immediately available, and the insurer, whose website contained only a brief message, could not be reached for comment Monday. U.K. accountants Grant...
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