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New Zealand court sets date for CBL Insurance liquidation hearing

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New Zealand court sets date for CBL Insurance liquidation hearing

New Zealand's Auckland High Court has set the date to hear the Reserve Bank of New Zealand's application to liquidate CBL Insurance Ltd. on July 30, for three days.

The hearing was originally set for June 5 and June 6, but the central bank asked the court to postpone and said it was no longer pursuing the liquidation order, asking it to push through with the hearing after at least two months.

The regulator made the request to give stakeholders a chance to present more options for dealing with CBL Insurance and to give the central bank and interim liquidators time to consider such options.