Tokio Marine Europe files for Chapter 15 recognition in US
Tokio Marine Europe Insurance Ltd, a part of the Tokio Marine Group, has filed a petition for protection from creditors within its recently approved solvent scheme of arrangement under Chapter 15 in US bankruptcy court in Manhattan.
The purpose of the solvent scheme of arrangement is to settle liabilities relating to old run-off insurance business from 2004 so Tokio Marine Europe can focus on its core portfolio of direct
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