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Scottish Annuity & Life Insurance Company – Court Approves $63.5 million Settlement of SFL Note Claim

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August 22, 2018 – The Court hearing the Scottish Annuity & Life Insurance Company case approved the stipulation by and among (i) Scottish Annuity & Life Insurance Company (Cayman), (ii) Scottish Holding and (iii) Scottish Financial (Luxembourg) S.A.R.L. (“SFL”) regarding (a) the allowance of the SFL Note Claim as a Class 6 claim under the Plan of Reorganization (the “Plan”) and (b) the voting of the SFL note claim in favor of the Plan [Docket No. 471]. As previously reported [Docket No. 445], “So long as the SFL Receiver and SFL comply with the terms of the Stipulation, the SFL Note Claim Allowance Conditions set forth in Section 4.3(c)(ii)(B)(2)(a) of the Plan will be deemed satisfied and the SFL Note Claim will be Allowed under the Plan as a Class 6 Claim in the amount of $63,536,014.32.”

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The post Scottish Annuity & Life Insurance Company – Court Approves $63.5 million Settlement of SFL Note Claim appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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