MEGA PETROLEUM AND PANTHENON

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                    [ArticleID] => 248732
                    [Title] => CDO on insurer still valid
                    [Summary] => The Insurance Commission (IC) will not lift the cease and desist order (CDO) on Security Pacific Assurance Corp. (SPAC) until it settles all claims.


In an interview, IC officer-in-charge Eduardo T. Malinis said SPAC must settle its P20-million arrears coming from the issuance of several surety bonds to Rambi Development Corp., an oil company that imports finished oil products and sells this either wholesale or retail.


                    [DatePublished] => 2004-05-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
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abtest

CDO on insurer still valid

May 4, 2004 - 12:00am

The Insurance Commission (IC) will not lift the cease and desist order (CDO) on Security Pacific Assurance Corp. (SPAC) until it settles all claims. In an interview, IC officer-in-charge Eduardo T. Malinis said...

Banking