Colorado Bankers (CB Life)...

[Phyllis Christos]

We have been in direct contact with our State Guaranty Association for a long, long time. I recommend everyone else do the same.

Despite all the negativity/skepticism on this forum...there has been a lot of progress...
I believe we are moving forward in the right direction....!!

I'm not saying I haven't been negative and skeptical too....
Believe me.... the last 4 years have taken their toll on me...

 

[Jrbeccles]

So, if I understand this (which I most likely don't) it sounds like the NC Supreme court rejected the appeal from GBIG. Is that correct?

 

[rats0001]

I'll believe it when I have a check in my hand.

 

[Newby]

I do hope everyone is made whole. But I think we all recognize that the industry needs a real solution for things like this. None of us would find this acceptable if we were the person with our money tied up for years.

 

[ccwpc]

NC Supreme Court Petitions heard yesterday, 8/23/24:

94P24
Mike Causey, Commissioner of Insurance of North Carolina, Petitioner v. Southland National Insurance Corporation, Southland National Reinsurance Corporation, Bankers Life Insurance Company, Colorado Bankers Life Insurance Company, North Carolina Domiciled Insurance Companies, Respondents

1. Intervenor's (GBIG Holdings, LLC) PDR Under N.C.G.S. § 7A-31(COA23-725)
1. Dismissed as moot

2. Appellees' Motion to Expedite Consideration of PDR
2. Dismissed as moot

3. Intervenor's (GBIG Holdings, LLC) Motion to Withdraw PDR
3. Allowed

Can you explain what this means? Thanks

 

[Dan T]

means Lindberg appeal denied, the appeal held no practical value, and the petition for review has been withdrawn

 

[rats0001]

So something should happen on November 30, 2024 according to this:

The Order of Liquidation will become effective as of the first month-end occurring on or subsequent to ninety (90) days after the later of: (1) the entry of the Order; (2) a decision of the North Carolina Court of Appeals affirming the Order, if further review of that decision is not sought; (3) an order by the North Carolina Supreme Court denying discretionary review of the case; or (4) a decision of the North Carolina Supreme Court affirming the Order

 

[rats0001]

lindberg -524 million another, lots of luck getting paid.

Federal Appeals Court upholds $524 million judgment against Lindberg

The 4th US Circuit Court of Appeals has upheld a trial judge’s $524 million judgment against former top North Carolina political donor Greg Lindberg. With interest, Lindberg could owe closer to $600 million.

www.carolinajournal.com

 

[ProActive]

NC Supreme Court Petitions heard yesterday, 8/23/24:

94P24
Mike Causey, Commissioner of Insurance of North Carolina, Petitioner v. Southland National Insurance Corporation, Southland National Reinsurance Corporation, Bankers Life Insurance Company, Colorado Bankers Life Insurance Company, North Carolina Domiciled Insurance Companies, Respondents

1. Intervenor's (GBIG Holdings, LLC) PDR Under N.C.G.S. § 7A-31(COA23-725)
1. Dismissed as moot

2. Appellees' Motion to Expedite Consideration of PDR
2. Dismissed as moot

3. Intervenor's (GBIG Holdings, LLC) Motion to Withdraw PDR
3. Allowed

Why is it that we are not seeing any articles in the news related to this event?

 

[Allen Trent]

Why is it that we are not seeing any articles in the news related to this event?

election year. All hands on dec in the media to campaign for the politicians