ann out re imf litigaition, page-36

CNP IS LIKELY TO HAVE LIABILITY INSURANCE COVER FOR THIS CLAIM!
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swap

This is in response to your comments copied below.

Lawyer don't give a damn how much money the defendant company has so long as the defendant company has insurance for the liability.

Companies in liquidation are frequently involved in costly litigation. It is typically the insurers that are defending the claims because they and not the company itself carry the liability risk as well as the liability to pay legal costs on behalf of the insured defendant company.

Public companies are typically insured for compliance/non-disclosure type liabilities and I would expect Centro and its directors and officers to be insured for this type of claim.

Cheers
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"EVEN THE LAWYERS THINK CENTRO WILL SURVIVE !!!!!!


... and they obviously value the company at a good few hundred million dollars.

Lawyers are not the smartest of people, but they wouldn't bother starting proceedings against a company that was worthless."