Conseco To File Reorganization Plan Shortly

Conseco Inc. said it is in the final stages of drafting a reorganization plan and disclosure statement for its holding companies. The plan will be filed in U.S. Bankruptcy Court by Jan. 31.

On Dec. 18, 2002, the U.S. Bankruptcy Court issued an order protecting the debt-laden company. The order was issued following an agreement reached by bondholders and bank lenders. The company has approximately $6.5 billion in debt.

Reproduced from National Underwriter Life & Health/Financial Services Edition, January 27, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.