Objectors To Asset Sale Procedures Argue Discovery Provision Is A ‘Death-Trap’

Mealey's ( April 13, 2022, 1:05 PM EDT) -- NEW YORK — Several entities on April 12 objected to or opposed a request by the joint provisional liquidators (JPLs) of Bermuda insurer and reinsurer PB Life and Annuity Co. Ltd. (PBLA) and other debtors that a New York federal bankruptcy court approve procedures to sell the debtors’ assets, with one group arguing that the JPLs “have essentially constructed an objection ‘death-trap’ in order to obtain coerced and free discovery from third parties.”...