The appeal of the Order of Liquidation of November 21, 2022, by Greg Lindberg’s company, GBIG Holdings, LLC, has concluded. The North Carolina Supreme Court granted GBIG Holdings, LLC’s Motion to withdraw its appeal. This means there will be no further appeals and the liquidation process will move forward when the Order of Liquidation becomes effective. The Order of Liquidation will become effective on November 30, 2024.
As of that date, CBL’s policy obligations will be covered by various state life and health insurance guaranty associations subject to applicable statutory limits and requirements. See a list of Frequently Asked Questions about the liquidation order available on the Company’s website. CBL remains in rehabilitation until November 30, 2024.
The state life and health guaranty associations will be sending out notices to policyholders about the liquidation through the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA). Please review the information in the notice carefully.
