CBL watershed meeting deadline extended, Goldman Sachs hired as adviser

By on March 23, 2018
CBL watershed meeting deadline extended, Goldman Sachs hired as adviser

The CBL Corp saga will continue, with the company's voluntary administrators postponing the creditors' watershed meeting to gather more information and hiring Goldman Sachs as an adviser.

Auckland-based CBL appointed KordaMentha voluntary administrators on March 2 after the Reserve Bank sought an interim liquidation of its New Zealand supervised arm and the Central Bank of Ireland made a similar move against the insurer's European division.

CBL had its stock suspended from the NZX on February 8 amid concerns from NZX Regulation about the information it had given the market, following engagement between it, CBL, the Financial Markets Authority (FMA), the Reserve Bank, and a number of overseas regulators with prudential oversight of CBL's international insurance business.

Read the full article by Sophie Boot > The New Zealand Herald - nzherald.co.nz



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