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This is a summary of a request from Patriot National Inc. to hire Pachulski Stang Ziehl & Jones LLP as co-counsel and conflicts counsel, filed Feb. 7 with the U.S. Bankruptcy Court in Wilmington, Del.
A dizzying year for Patriot National culminated this week when the company announced plans to file for Ch. 11 bankruptcy and extinguish all of its outstanding stock, moves that will end the company’s affiliations with founder and majority stockholder Steven Mariano. Patriot National, which Mariano took public in 2015, provided administrative and technology services to insurance companies selling worker’s compensation policies.
Fort Lauderdale-based Patriot National, Inc. announced on Tuesday that it will be acquired by two investment groups following reorganization in federal bankruptcy court in Delaware. By filing for a Chapter 11 reorganization, the company plans to "extinguish" all existing Patriot National stock, and end its association with founder and former CEO Steven Mariano, formerly the majority stock holder, according to the company. The insurance services company made the announcement in a Securities and Exchange Commission filing on Tuesday afternoon.
Insurance services provider Patriot National Inc. has struck a restructuring deal to hand over its business to Cerberus Capital Management LP and TCW Asset Management Co. through bankruptcy while cutting ...
Patriot National, a publicly listed provider of technology and outsourcing services to the insurance industry, in a Securities and Exchange Commission filing said it reached an agreement with its secured ...
A day before Patriot National announced it lost most of its business and would lay off 250 employees last week, one of its customers and affiliated companies agreed to be acquired. Ashmere Insurance Co.’s parent company, which is majority owned by Patriot National’s former CEO and majority shareholder Steven Mariano, announced on Nov. 21 that it plans to be acquired by Bedrock Insurance Group Holdings. The acquisition still needs to be approved by regulators, and it is unclear just how much the acquisition will help Patriot National (PN), which is under financial strain.
Stock Monitor: Willis Towers Watson Post Earnings Reporting LONDON, UK / ACCESSWIRE / November 27, 2017 / Active-Investors issued a free report on Patriot National, Inc. (NYSE: PN ) ("Patriot"), ...
Patriot National Inc. announced Wednesday that it has laid off 250 employees after losing most of its business as a result of its largest customer, Guarantee Insurance Co., being placed under state receivership. The Fort Lauderdale insurance services company (PN) also announced that it has entered a forbearance agreement with one of its creditors after defaulting on a previous credit agreement. Under the forbearance agreement, Patriot National has until Dec. 3, 2017 before its creditor, Cerberus Business Finance LLC, can accelerate its loan payments and exercise its rights on a loan it gave Patriot National.
Today, I will be analyzing Patriot National Inc’s (NYSE:PN) recent ownership structure, an important but not-so-popular subject among individual investors. Ownership structure of a company has been found to affectRead More...
NEW YORK , Sept. 27, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at Patriot National, Inc. ("Patriot" or the "Company") ...
Shareholder rights law firm Robbins Arroyo LLP announces that a lawsuit was filed against current and former members of the board of directors of Patriot National, Inc. in the U.S.
LONDON, UK / ACCESSWIRE / July 17, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Patriot National, Inc. (NYSE: PN ), following which we have published ...