(January 22 – 10:30 ET) – Specialty insurer Queensway Financial Holdings Ltd. lives to fight another day.

The firm says its senior lenders, Trilon Financial Corp. and Comerica Bank, have extended its senior debt facility, which was previously due on February 1 to February 26. In addition, the senior lenders have waived all current defaults under Queensway’s senior debt facility.

The troubled firm says, “Management continues to pursue alternative means of extending, refinancing or repaying the senior debt facility. These alternatives include the sale of certain assets, and various debt and/or equity financing transactions.

Trilon Securities Corp. continues to advise Queensway on various alternatives available to recapitalize or otherwise restructure Queensway’s capital base.”
-IE Staff