CBL Insurance in secret deal with Gibraltar creditor
Failed insurer’s liquidators agree to commutation of long-term liabilities.
Tim Hunter Thu, 28 Mar 2019
Liquidators have reached a deal to pay out the largest creditor of CBL Insurance, Gibraltar-based Elite Insurance, although the details are being kept under wraps.
CBLI, the main operating subsidiary of NZX-listed CBL Corporation, was placed in liquidation last November on the application of the
