December 18, 2002
Finance experts can talk about Conseco bankruptcy
Conseco Inc. filed for Chapter 11 bankruptcy court protection in Chicago yesterday (Tuesday, 12/17). Two Purdue University finance professors can put the nation's third largest bankruptcy into context.
The company emphasized that the filing includes only Conseco Finance Corp., certain holding companies and non-operating subsidiaries. Conseco's insurance companies, Conseco Capital Management and other entities are not included in the filing.
The company also announced the sale of Conseco Finance after the bankruptcy filing.
A bankruptcy of this magnitude has an impact not only on the company and its employees, but also on creditors and customers.
Wilbur B. "Bill" Lewellen, Herman C. Krannert Professor of Finance, and David J. Denis, professor of finance, can discuss what the bankruptcy filing means and its implications.