Amwest Insurance Group Inc. announced that it has commenced Chapter 11 bankruptcy proceedings in the United States Bankruptcy Court for the Central District of California.
The company will be a debtor in possession, and in due course will file with the Bankruptcy Court a plan for the reorganization of its debts.
The bankruptcy filing arose as a result of the June 8, 2001, takeover by the Director of Insurance of the State of Nebraska of the company’s principal operating subsidiary, Amwest Surety Insurance Company. Amwest Surety Insurance Company has been placed in liquidation by the Nebraska Director of Insurance.
Was this article valuable?
Here are more articles you may enjoy.
Ex-NFL Player Sentenced to 16 Years in Prison for $200M Medicare Fraud Scheme 
High-Powered Dads Are Spending Less Time at Work, More on Childcare 
Some College Finals Delayed After Canvas Online Platform Hacked 
Florida, Louisiana Insurer Safepoint Reveals 97% Revenue Surge in IPO filing 
