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Court Approves Patriot National Bankruptcy, Reorganization

The bankruptcy and reorganization plan filed by insurance technology and outsourcing firm Patriot National has been approved and the transition of ownership of the Florida-based company can now move forward.

According to a statement from Patriot National, the bankruptcy court on May 4 approved the company’s plan of reorganization, which will result in the transition of ownership from its public shareholders to Cerberus Business Finance, LLC and its affiliates and TCW Asset Management Company LLC.

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