Chapter 11 bankruptcy News

Patriot National to Reorganize for Acquiring Lenders; Subsidiaries to File Chapter 11

Patriot National Inc., which provides technology, outsourcing and underwriting services to the insurance industry, has announced a plan of reorganization as part of a restructuring support agreement (RSA) with its lenders, Cerberus Business Finance, LLC and its affiliates, and TCW …

Takata Suitors Weigh GM Bankruptcy Liability Ruling

As auto supplier Takata Corp. prepares for a possible U.S. bankruptcy filing, potential bidders are poring over a recent U.S. court ruling that could expose a buyer to liability for the company’s defective air bags, sources have told Reuters. Takata …

Arch to Acquire Interests in California Firm From Bankrupt PMI

Arch Capital Group Ltd., through its U.S.-based subsidiaries (Arch U.S. MI), will acquire all outstanding equity interests in San Francisco, Calif.-based CMG Mortgage Insurance Co. from bankrupt Arizona-based PMI Mortgage Insurance Co. and CUNA Mutual Group, it was announced on …

C.M. Meiers Brokerage in Southern California on Trustee’s Auction Block

Woodland Hills, Calif.-based C.M. Meiers Co. Inc. is being auctioned on Friday at a U.S. bankruptcy court near Los Angeles. Following a Chapter 11 bankruptcy filed on Jan. 9, the firm was placed in the hands of a trustee by …