R&Q
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The restructuring arrangement is designed to protect creditors. -
The transaction has received all required regulatory approvals and closed.
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He joins from R&Q Insurance Holdings, where he has been chief accounting officer.
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The transaction with Enstar covers $234mn of net Accredited reserves.
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The liquidators were confirmed at a hearing in Bermuda yesterday.
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The Bermuda courts will assess Onex’s lower, revised offer for the fronting unit.
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The transaction is conditional to the completion of the sale of shares in Accredited to Onex.
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In this episode, Liberal Democrat parliamentary candidate for the Cities of London and WestminsterEdward Lucas discusses the importance of financial services in the political debate.
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The liquidation will let the company sell its Accredited arm to Onex via an alternative transfer structure.
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With topco liquidation looming, there are questions for R&Q and the wider market.
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The agency will keep the review open until the company’s sale completes.
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Onex has proposed an alternative sale structure, which includes R&Q’s potential liquidation.
