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Posts Tagged ‘Confederation Life’

Hourglass

I heard from a former employee of a dot com bubble company that went bankrupt in 2000 and was still being fought over in court four years later, and I thought that was ridiculous.

Confederation Life, one of Canada’s insurance companies, was forced into liquidation in 1994. As of December 7, 2010, their site reports:

The Liquidator anticipates that there will be one final distribution from the estate. Given the uncertainty surrounding the realization of the remaining non-monetized asset in the estate, the Liquidator is of the view that it will not seek Court approval for the final distribution until the middle of 2011. As soon as the Liquidator is of the view that it is appropriate to recommend approval for the final distribution, it will bring a motion for approval to the Court. At this point, the Liquidator is unable to project a date for such motion.

Las Vegas should start taking bets on when the liquidation will be completed, if they haven’t already.

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