CX Reinsurance Company Limited opened a Chapter 15 case in SDNY after the High Court of Justice in England and Wales placed the English reinsurer into administration on August 17, 2020. The petition named EY’s Richard Barker and Simon Edel as foreign representatives and sought recognition of the UK administration as a foreign main proceeding, the chapter 15 stay, and authority to administer U.S. assets source filing source filing.

The debtor was a London-based insurance and reinsurance company incorporated in 1972, stopped writing new business in August 2001, and entered the case in runoff with about $39 million of liabilities as of December 31, 2019. Its U.S.-linked asset base included roughly $35 million of investment assets at State Street Bank plus residual interests in New York-regulated trusts, while liabilities exceeded assets by about $4.887 million and the estate faced lead-paint coverage litigation plus 21 other U.S. matters source filing. The court set an October 8, 2020 recognition hearing with October 1 objections, then granted foreign-main recognition, stay protection, and U.S. asset-administration authority on October 8 source filing source filing.