Insight and Intelligence on the London & International Insurance Markets

25 February 2018

Search archive

PatNat plans bankruptcy filing in sale to lenders

Ted Bunker 28 November 2017

Patriot National, the insurance services outsourcer majority owned by former CEO Steven Mariano, plans to seek Chapter 11 bankruptcy protection as part of a deal to be acquired by its secured lenders.

Under a reorganisation plan outlined today in a regulatory filing, all issued and outstanding equity interests in the company would be erased.

The plan would leave a lending unit of New York-based Cerberus Capital Management and another credit provider, TCW Asset Management, in control of PatNat.

The plan...

If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership


Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2018. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.