A bankruptcy hearing has been scheduled for a Grand Island insurance agency under investigation by the state.
First Americans Insurance Service filed for Chapter 11 bankruptcy protection on Jan. 12, claiming between $100 million and $500 million in liabilities. The filing lists more than 200 creditors, with the top 20 including mostly individuals and couples from Nebraska.
A hearing is schedule for Feb. 20.
Last week, Attorney General Jon Bruning authorized a Nebraska State Patrol investigation into First Americans and its three principals. The patrol is working with the departments of insurance and banking to piece together how more than $100 million disappeared.
___
On the Net:
First Americans Insurance Service, http://www.fais.com
Was this article valuable?
Here are more articles you may enjoy.
Amazon Seen as Shielded From Liability for Miami Cargo Plane Crash 
Aon Acquires USI Insurance From KKR in $17 Billion Deal Targeting Middle Market 
Powerful El Niño Nears Record Strength, US Forecasters Say 
Viewpoint: After 3 Years of Retreat, Insurance Capacity Is Returning to California 
