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BRIEFLY

Mission's debt holders filed a petition.

January 21, 1986

The public debt holders, who earlier this month filed a petition to force Mission Insurance Group into proceedings under Chapter 11 of the U.S. Bankruptcy Code, filed a new petition that asked a federal bankruptcy court to force the ailing insurance firm to suspend payments to certain creditors, subsidiaries and others. The petitioners, which include three pension funds and one investment firm, are jointly owed $4 million in overdue interest on Mission debentures. They claimed that payments should not be made until the Chapter 11 petition is decided.

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