NU Online News Service, Aug. 21, 11:05 a.m. – Conseco Inc., Carmel, Ind., says it will start negotiating later this week with a new committee formed by holders of Conseco?fs public notes.
The committee has hired Fried, Frank, Harris, Shriver & Jacobson, New York, to be its legal advisor, and Houlihan Lokey Howard & Zukin Inc., Century City, Calif., to be its financial advisor.
Conseco “views formation of the committee at this time as a positive development toward a prompt, successful restructuring,” Conseco says in a statement about the negotiations.
Conseco announced plans Aug. 9 to try to restructure the debt of the parent company. But Conseco says its Conseco Insurance Group, Conseco Finance Corp. and Bankers Life and Casualty Company units are not part of the proposed restructuring and continue to operate as usual.