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Name | Symbol | Market | Type |
---|---|---|---|
Zurich Insurance Group Limited (QX) | USOTC:ZURVY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.69 | 1.42% | 49.30 | 48.72 | 49.62 | 49.30 | 49.085 | 49.18 | 51,324 | 21:30:05 |
By Becky Yerak
The Boy Scouts of America, which filed for bankruptcy last year over a growing wave of lawsuits from sexual abuse survivors, has struck deals with a United Methodist church group and with insurer Zurich.
The deal with the United Methodist church group includes a $30 million payment to a settlement trust over three years.
Also, Zurich Insurance Group AG will make a $52.5 million contribution, Boy Scouts lawyer Jessica Lauria said during a hearing Tuesday in the U.S. Bankruptcy Court in Wilmington, Del.
Total settlements are approaching $3 billion, she said.
During the proceedings, which were focused on scheduling matters, Richard Pachulski, a lawyer for a survivors committee, said the Zurich contribution was "50% less than we think it should be."
A Zurich lawyer had no comment afterwards on Mr. Pachulski's remark.
Write to Becky Yerak at becky.yerak@wsj.com
(END) Dow Jones Newswires
December 21, 2021 19:32 ET (00:32 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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