Colorado Bankers (CB Life)...

[Allen Trent]

Your state guarantee package of options could include buyers for your assets

No, I don't mean Guaranty associations. They don't have any assets at all. They will send a bill to other insurance companies in their state that had nothing to do with it to fund the guaranty payments to CBL customers

I was talking about the liquidation order to CBL to sell all their assets, pay creditors, etc. CBL could own buildings, companies, bonds, mortgages, etc.

For comparison. Say you were a person that won a lawsuit against a business & a judge ordered then to liquidate their assets. They would have to put everything up for sake. All those sales could take months or longer to liquidate assets, especially the assets that have a creditor on the assets as collateral on loan

 

[ccwpc]

Can anyone speculate on what the process will be for the excess policyholders? Will there be a class action lawsuit filed on our behalf or what other possible scenarios will happen?

 

[Dan T]

information in the letter

 

[rats0001]

$900,000,000 of lindberg affiliated investments probably worthless or already sold.

 

[Allen Trent]

Can anyone speculate on what the process will be for the excess policyholders? Will there be a class action lawsuit filed on our behalf or what other possible scenarios will happen?

I would be surprised. I say that because who would the class action lawsuit be against? CBL will already be broke & liquidated.

Class Action likely wouldnt go against all the banks or agents that sold CBL.

Maybe if 1 bank mentioned many times in this thread had lots of customers come forward, they could attempt a lawsuit against the bank. But not sure there will be a lawyer that thinks they can both prove, win & recover on those. lawyer bills could add up quick trying to sue a large bank if lawyer didnt take it on contingency