Bona Life goes solo after CMB

Bona Life, as the sole creditor of CMB Fund 1, has filed an urgent application seeking for the provisional winding up of CMB Fund 1 as the insurance company tries to protect its assets from going under liquidation through asset manager CMB.

CMB, which is already under liquidation is the asset manager for Bona Life and parent host for CMB Fund 1 while Bona Life is a creditor of CMB Fund 1 in a liquidated amount of at least P133,500,000 and reckons that should CMB Fund 1 go under winding up under CMB, it would lose its assets.