Zurich Financial Settles Huge Bankruptcy Claim
NU Online News Service, Dec. 14, 3:44 p.m. EST?ZC Specialty Insurance Company, a Zurich Financial Services subsidiary, has settled a $728 million claim by a bankrupt nursing home chain for $47.5 million.[@@]
The agreement–which needs approval of the U.S. Bankruptcy Court for the Northern District of Texas in Dallas–follows a ruling this April that ZCSIC was a de facto partner of the Senior Living Properties nursing home chain. The appeal will now be dropped, Zurich Financial said.
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