February 23, 2018 / 7:58 AM / 24 days ago

NZ High Court places CBL Insurance in interim liquidation

SYDNEY, Feb 23 (Reuters) - New Zealand’s High Court has placed insurance firm CBL Insurance Ltd, the main subsidiary of CBL Corporation Ltd, in interim liquidation after a request from the country’s central bank.

Two partners of insolvency firm McGrath Nicol were appointed as liquidators, New Zealand High Court Justice Patricia Courtney said in orders issued on Friday.

As New Zealand’s insurance regulator, the Reserve Bank of New Zealand licenses and supervises CBL Insurance Ltd. (Reporting by Tom Westbrook; Editing by Muralikumar Anantharaman)

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