BRIEF-Hallmark Financial Services Enters Into Restructuring Support Agreement, Files For Chapter 11

Hallmark Financial Services, Inc.

Hallmark Financial Services, Inc.

HALL

0.00

June 15 (Reuters) - Hallmark Financial Services Inc HALL.PK:

  • HALLMARK FINANCIAL SERVICES TAKES STRATEGIC ACTION TO STRENGTHEN HOLDING COMPANY CAPITAL STRUCTURE AND SUPPORT LONG-TERM SUCCESS

  • HALLMARK FINANCIAL SERVICES: ENTERS INTO RESTRUCTURING SUPPORT AGREEMENT WITH KEY STAKEHOLDERS INITIATES PREARRANGED FINANCIAL RESTRUCTURING

  • HALLMARK FINANCIAL SERVICES: EXPECTS TO EMERGE FROM CHAPTER 11 PROCESS IN LESS THAN 90 DAYS, SUBJECT TO REGULATORY APPROVAL

  • HALLMARK FINANCIAL SERVICES INC: INSURANCE COMPANY SUBSIDIARIES REMAIN WELL-CAPITALIZED AND ARE NOT PARTIES TO TRANSACTION

  • HALLMARK FINANCIAL SERVICES: HAS SUFFICIENT CASH ON HAND AND DOES NOT REQUIRE DEBTOR-IN-POSSESSION FINANCING

  • HALLMARK FINANCIAL SERVICES: OPERATIONS CONTINUE IN ORDINARY COURSE, WITH NO IMPACT FOR EMPLOYEES, AGENTS, POLICYHOLDERS, OR OTHER STAKEHOLDERS

  • HALLMARK FINANCIAL SERVICES: HAS FILED VOLUNTARY PETITION FOR REORGANIZATION UNDER CHAPTER 11 OF BANKRUPTCY CODE IN NORTHERN DISTRICT OF TEXAS

  • HALLMARK FINANCIAL SERVICES: TO IMPLEMENT TERMS OF RSA, HAS FILED VOLUNTARY PETITION FOR REORGANIZATION UNDER CHAPTER 11 OF BANKRUPTCY CODE

Source text: ID:nBw3n3pjfa

Further company coverage: HALL.PK


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