Health Ministry Operator Aliera to Liquidate with Creditor Deal

The Aliera Companies Inc., the former operator of a Christian medical cost-sharing service deemed to have sold faulty health insurance products, filed a plan to liquidate in bankruptcy and settle with creditors.

Aliera submitted the Chapter 11 plan Monday with the US Bankruptcy Court for the District of Delaware, advancing efforts to wrap up the company’s insolvency proceedings.

Aliera estimates the wind-down plan will repay up to 5% to medical care claimants owed about $660 million, and allow trade creditors to recover as much as 35% on their claims valued at up to $15 million. The plan features a waterfall ...