RBNZ pulls out of scheduled CBL Insurance liquidation hearing

Tue, 05 Jun 2018

By Rebecca Howard June 5 (BusinessDesk) - The Reserve Bank of New Zealand withdrew from a scheduled liquidation hearing involving CBL Insurance slated to take place this week and has requested that the interim liquidation continue. The High Court has ordered CBL Insurance be placed into interim liquidation on an application by the Reserve Bank as the insurer's prudential supervisor, in late February. The central bank alleged that CBL Insurance breached solvency margins and statutory directions. CBL Insurance is a unit of NZX-listed compan...

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