Bridgecorp receiver squeezes out $4 mln more in insurance settlement

Mon, 15 Sep 2014

By Paul McBeth Sept. 16 (BusinessDesk) - The receivers of failed lender Bridgecorp have eked out another $4 million in their seven-year administration after cutting a deal over a loan on which it held an insurance policy. Receiver Colin McCloy of PwC has been in talks with insurers and other parties over the level and acceptance of claims for policies on 19 loans, and last month negotiated a settlement with one of those parties on certain loans, he said in his latest report on the administration, without identifying the party. Earlier...

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