Scottish Holdings, Scottish Annuity debtors post results for October

By Caroline Salls

Pittsburgh, Nov. 30 – Scottish Holdings, Inc. reported no net income or revenue for October, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, Scottish Holdings recorded a $100,000 net loss for September, also on zero revenue.

Scottish Holdings had $1,303,100,000 in total assets and $5.9 million in total debt as of Oct. 31.

Meanwhile, the Scottish Annuity & Life Insurance Co. (Cayman) Ltd. posted $2.5 million of net income for October on $14.1 million in total revenue, compared with a $13.6 million September net loss on $13.8 million in total revenue.

Scottish Annuity had $2,534,300,000 in total assets and $672.9 million in total debt at the end of October.

Scottish Re Group Ltd. is a Hamilton, Bermuda-based life reinsurance company. Its Cayman Islands and U.S. subsidiaries filed bankruptcy on Jan. 28, 2018 under Chapter 11 case number 18-10160.

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