New Zealand credit and financial surety insurer, CBL Corporation, has gone into liquidation. The NZ High Court yesterday put the company in the hands of Brendon Gibson and Neale Jackson of KordaMentha.The company, which operates in Australia as Assetinsure, has been battling to stay afloat for some time. It went into voluntary administration in February last year after running into trouble in France, where it has a construction insurance business.CBL's originating insurer in France, Elite Insurance Co, went into run-off in 2017, raising questions about the reserving of the French construction business.In February last year, prior to going into administration, the company said it would strengthen its reserves and make adjustments but it insisted that its cashflow was strong.Through the course of last year subsidiary businesses were sold or liquidated.The last time the company produced a financial report, for the six months to June 2017, it reported gross written premium revenue of $NZ204 million, of which NZ$13.7 million was sourced in Australia.CBL described itself as a specialist in writing "building and construction related credit and financial surety insurance, bonding and reinsurance."It had operations in 25 countries and around 550 employees before it went into administration.