© 2007 LTC Consultants
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INDIANAPOLIS — Insurance
and finance company Conseco Inc., facing $6.5 billion in debt and a federal
investigation of its accounting practices, filed for Chapter 11 protection
in the third-largest bankruptcy in U.S. history.... Company officials
have said Conseco's insurance subsidiaries have remained fundamentally
sound despite the parent company's debt problems..... The filing covers
Conseco Inc., the parent company, as well as St. Paul, Minn.-based Conseco
Finance Corp. and its consumer finance subsidiaries. Conseco's insurance
operations are not included in the filing. More>>
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