Firstquote Closes Major Operating Unit; Future Now Rests on June 1 Hearing
ORGANIZATION AND MANAGEMENT
GENEVA--Firstquote Inc. shut down Firstquote SA, its major operating subsidiary, earlier this month and laid off most of its 50 employees. The future of the company now hangs in the balance. "The outcome will be known after our hearing on June 1," says CEO Neil Gibbons.
Firstquote was given an adjournment from bankruptcy proceedings this month and intends to present a reorganization plan and a financial restructuring at a hearing on June 1. Gibbons says the market data vendor is in discussion
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