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Scottish Holdings, Scottish Annuity debtors post results for January
By Caroline Salls
Pittsburgh, March 14 – Scottish Holdings, Inc. reported zero net income and zero revenue for January, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
In December, Scottish Holdings posted a $300,000 net loss on zero revenue.
Scottish Holdings had $1,303,600,000 in total assets and $6.2 million of total debt as of Jan. 31.
Meanwhile, Scottish Annuity & Life Insurance Co. (Cayman) Ltd. posted a $1.8 million net loss for January on $16.1 million in total revenue, compared with $11.5 million of net income for December on $21.6 million in total revenue.
Scottish Annuity had $2,501,400,000 in total assets and $610.7 million in total debt at the end of January.
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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