Vitality Firm Managed by Indicted Insurance coverage Tycoon Information for Chapter 11

An power firm managed by indicted financier Greg Lindberg filed for chapter, a attainable signal of monetary misery in his empire of personal corporations that collectively borrowed a minimum of $2 billion from life insurers he owned.

Agera Vitality LLC owes $35.7 million to considered one of Mr. Lindberg’s North Carolina insurers, based on papers filed Friday within the U.S. Chapter Courtroom in New York. That debt is unlikely to be totally repaid as a result of the insurer’s declare ranks behind far bigger obligations owed to BP Vitality Co., in accordance…