Scottish Holdings, Scottish Annuity debtors post results for February

By Caroline Salls

Pittsburgh, April 10 – Scottish Holdings, Inc. reported a $100,000 net loss and zero revenue for February, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

In January, Scottish Holdings posted no net loss or revenue.

Scottish Holdings had $1,303,600,000 in total assets and $6.2 million of total debt as of Feb. 28.

Meanwhile, Scottish Annuity & Life Insurance Co. (Cayman) Ltd. posted a $1 million net loss for February on $9.7 million in revenue, compared with a $1.8 million net loss for January on $16.1 million in total revenue.

Scottish Annuity had $2,494,700,000 in total assets and $605 million in total debt at the end of February.

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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