InvestorsHub Logo
Followers 374
Posts 48150
Boards Moderated 2
Alias Born 10/27/2005

Re: twk000jester post# 6971

Tuesday, 11/25/2008 11:02:43 PM

Tuesday, November 25, 2008 11:02:43 PM

Post# of 10201
yes, they did have that solvent scheme and it was completed...

"Absent any accelerated closure mechanism, it is possible that the
normal course run-off of LaSalle would continue for at least five years.
However, as an accelerated closure mechanism, LaSalle has proposed a Scheme of
Arrangement under Section 99 of the Bermuda Companies Act 1981 (the "Scheme")
with its creditors.


The Scheme was approved by LaSalle's creditors and was sanctioned by the Court
on April 27, 2007. Now that the Scheme has been implemented it will materially
shorten the time necessary to finalise LaSalle's closure. The Scheme is
expected to terminate LaSalle's remaining insurance liabilities by the end of
2007"


http://knobias.10kwizard.com/filing.php?param=&ipage=4901301&DSEQ=2&SEQ=&SQDESC=SECTION_EXHIBIT&exp=

___________________________________________________
"The only thing necessary for the triumph of evil is for good [people] to do nothing." --Edmund Burke



Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.