Lamington Road Designated Activity Company LLC (Case No. 18-12615) and its subsidiary, White Eagle General Partner, LLC (Case No. 18-12614), have filed petitions for relief under chapter 11 in the Bankruptcy Court for the District of Delaware. Lamington Road, based in Dublin, Ireland, indirectly owns a 100% interest in the proceeds of certain life insurance policies acquired using $370 million in financing from Imperial Finance & Trading. Markley Asset Portfolio is Lamington’s 100% equity holder. The Petition further discloses that the fair value of the life insurance policies Lamington Road holds, according to a June 30, 2018 valuation, was approximately $568 million. No other filings have been docketed. The cases have been assigned to the Honorable Kevin Gross.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.