Firstquote Avoids Bankruptcy, Enters Talks to Sell Assets

GENEVA--Firstquote SA, the data vendor that recently ceased operations because of a lack of funding, has avoided bankruptcy and been given six months to reorganize itself.

The decision was made at a court hearing in Geneva two weeks ago following a two-month adjournment period in which Firstquote SA was given creditor protection. During that time the management of parent company Firstquote Inc. worked with a court-appointed commissioner to assess the future of Firstquote SA and put forward a plan