-
October 16, 2024
RALEIGH, N.C. — An insurer in rehabilitation and the Malta-based investment firm its sued for breach of contract related to the firm’s purported failure to make payments on a loan filed a stipulation of dismissal in North Carolina federal court regarding the firm’s counterclaims.
-
October 10, 2024
SAN FRANCISCO — The Roman Catholic Bishop of Oakland, Calif., filed a fifth amended declaratory judgment and breach of statutory duty complaint in a California federal court against numerous insurers and the California Insurance Guarantee Association (CIGA), which the plaintiff believes assumed responsibilities for its now-insolvent insurer, seeking a declaratory judgment stating that the plaintiff is entitled to a defense and indemnity regarding covered claims for the more than 300 suits filed against it related to alleged clergy sexual abuse.
-
October 10, 2024
TALLAHASSEE, Fla. — In a brief per curiam disposition, a Florida appellate panel partly dismissed and partly affirmed an offshore reinsurer’s appeal of the denial of its motion to lift an automatic stay in a workers’ compensation insurer’s liquidation and to compel arbitration.
-
October 10, 2024
WILMINGTON, Del. — A Delaware federal bankruptcy judge has granted a motion to extend the claims objection bar date by 180 days to April 7 in the Chapter 11 liquidation of Vesttoo Ltd. and its dozens of affiliates.
-
October 09, 2024
LAKE CHARLES, La. — After being advised that the parties have settled, a Louisiana federal judge dismissed a hurricane coverage dispute between insureds and the Louisiana Insurance Guaranty Association (LIGA), which was substituted for their now-insolvent insurer.
-
September 30, 2024
TOPEKA, Kan. — After being advised of a settlement in the liquidation proceedings of an insolvent medical malpractice insurer, a Kansas federal judge in a docket-only entry ordered the parties to file a stipulation of dismissal by Nov. 18.
-
September 30, 2024
OKLAHOMA CITY — An Oklahoma federal judge granted a D&O insurer’s motion to dismiss a declaratory judgment suit filed against it by the Oklahoma insurance commissioner, as receiver of another insurer in liquidation whose parent company was insured under a policy issued by the D&O insurer, finding that neither the liquidation order nor the Oklahoma Uniform Insurers Liquidation Act (OUILA) gives the insurance commissioner standing to “succeed” to the rights of the directors or officers.
-
September 26, 2024
WILMINGTON, Del. — A Delaware federal bankruptcy judge has been asked to extend the claims objection bar date by 180 days in the Chapter 11 liquidation of Vesttoo Ltd. and its dozens of affiliates.
-
September 25, 2024
RALEIGH, N.C. — Without providing an explanation, a North Carolina federal judge granted defendants’ motion for an extension to file answers to an amended complaint in a suit accusing them of Racketeer Influenced and Corrupt Organizations Act (RICO) violations related to their purported participation in a $1 billion scheme to defraud now-insolvent insurers once owned by former insurance magnate Greg Lindberg.
-
September 25, 2024
NEW ORLEANS — “Considering” the parties’ joint dismissal motion, a Louisiana federal judge dismissed with prejudice a breach of contract suit over damages from Hurricane Ida filed against the Louisiana Insurance Guaranty Association (LIGA), which was substituted for an insolvent homeowners insurer.
-
September 24, 2024
STATESVILLE, N.C. — A North Carolina federal judge on Sept. 23 granted the Department of Justice’s (DOJ) motion for the preliminary forfeiture of two bank accounts totaling $1,454,758.45 seized by the Federal Bureau of Investigation while investigating a case resulting in a retrial at which the former owner of now-insolvent insurers was again convicted of bribery and conspiracy, finding that the government established the required nexus to show that the seized proceeds were related to the crimes.
-
September 24, 2024
OMAHA, Neb. — A Nebraska federal magistrate judge granted in part National Indemnity Co. (NICO)’s motion to compel discovery of an insurer in its suit seeking to enforce obligations by multiple insurers, one of whom is now insolvent, for the liability NICO incurred related to claims for asbestos exposure, finding that the attorneys’ eyes only designation (AEO) must be removed from discovery material due, in part, to the insurer’s failure to “articulate why an AEO designation is the right tool to prevent this harm.”
-
September 23, 2024
MIAMI — Plaintiffs and defendant Wells Fargo filed a confidentiality stipulation in a Florida federal court in a putative class action suit alleging that Wells Fargo aided and abetted fraud in a “massive” Ponzi scheme purportedly orchestrated by owners of insurers, some of whom are now in receivership, resulting in elderly investor victims losing more than $300 million after scheme operators sold them promissory notes secured by collateral in stranger-oriented life insurance policies (STOLIs).
-
September 17, 2024
WINSTON-SALEM, N.C. — The U.S. Securities and Exchange Commission on Sept. 16 filed a notice of compliance with local rules in a North Carolina federal court regarding its brief responding to a motion to compel discovery filed by insurance magnate Greg Lindberg, a former owner of insurers now in receivership, in a suit alleging that he, his advisory services company and its former executive defrauded clients of more than $75 million.
-
September 17, 2024
ORLANDO, Fla. — Without explanation, a Florida judge denied dismissal of a complaint in which entities that purportedly invested about $65 million in a managing general agent just months before affiliated insurance companies were liquidated allege that they were defrauded.
-
September 16, 2024
GREENSBORO, N.C. — Greg Lindberg, who in a separate proceeding moved for acquittal of his conviction on retrial for bribing the North Carolina insurance commissioner, filed a notice of appeal in a North Carolina federal court that he and his related companies are appealing to the Fourth Circuit U.S. Court of Appeals an Aug. 14 judgment of $166,797,838 granted in favor of insolvency practitioners for a Dutch insurer in liquidation to confirm a Dutch tribunal’s arbitral award and judgment.
-
September 13, 2024
MIAMI — After being advised that the parties had reached a settlement, a Florida state court judge dismissed a breach of contract suit against the Florida Insurance Guaranty Association (FIGA), which had been substituted for a now-insolvent homeowners insurer sued by a homeowner over the insurer’s purported failure to cover damage from Hurricane Irma.
-
September 13, 2024
REDWOOD CITY, Calif. — Denying a motion that sought coverage of certain litigation costs for policyholders and a higher interest rate, a California state judge declined to reconsider her ruling approving a rehabilitation plan for California Insurance Co. (CIC), saying she “previously heard and considered these grounds.”
-
September 09, 2024
GRETNA, La. — A Louisiana appellate court granted a writ of application and reversed a trial court decision denying an exception of prescription, an exception that can result in dismissal, in a hurricane coverage dispute between insureds and the Louisiana Insurance Guaranty Association (LIGA), finding that because LIGA was not an obligor with the now-insolvent insurer when the initial complaint was filed and the amended complaint adding LIGA was filed outside the two-year prescriptive period, the suit should be dismissed.
-
September 09, 2024
RALEIGH, N.C. — The North Carolina Supreme Court “allowed” an intervenor holding company’s motion to withdraw its petition seeking review of an appellate court’s ruling affirming a lower court’s denial of a continuance in a liquidation proceeding involving insolvent insurers, asserting that withdrawal is appropriate in furtherance of the company’s settlement discussions with the North Carolina insurance commissioner.
-
September 03, 2024
NEW YORK — A New York federal judge on Aug. 30 granted a motion for preliminary injunction in an insurer’s suit over its April 14 purchase of Bermuda-based reinsurer JRG Reinsurance Company Ltd.
-
August 29, 2024
RALEIGH, N.C. — Without explanation, the North Carolina Supreme Court on Aug. 28 dismissed a motion for a temporary stay and writ of supersedeas in a judgment creditor’s suit seeking the appointment of a general receiver over the assets of judgment debtor Greg E. Lindberg, a former owner of insurers now in rehabilitation who was convicted of bribing the North Carolina insurance commissioner.
-
August 29, 2024
WILMINGTON, Del. — Saying his relevance conclusion sprang from “the class action context . . . and the express terms of the Funding Agreement itself,” a Delaware Chancery Court vice chancellor ordered the plaintiffs in a suit over an alleged scheme to strip capital from an insurance subsidiary on which many policyholders depend for long-term care (LTC) disability benefits to produce the funding and contingent fee agreements in their entirety.
-
August 27, 2024
RICHMOND, Va. — In a brief Aug. 26 unpublished per curiam opinion, a Fourth Circuit U.S. Court of Appeals panel affirmed judgment that enforces an arbitration award for $524 million plus interest against an insurance mogul who issued a guaranty.
-
August 22, 2024
NEW ORLEANS — Having been advised that the parties engaged in settlement, a Louisiana federal judge granted six dismissal motions filed by the plaintiff jointly with separate defendants in an asbestos liability suit against a shipyard, related defendants, insurers and the Louisiana Insurance Guaranty Association (LIGA) over a man’s exposure to asbestos resulting from his work at a shipyard.