STORY FROM: Reinsurance & Arbitration

Golden Isles Opposes Canal’s Efforts to Reveal Recipient of Alleged Fraudulent Transfer

ATLANTA — Golden Isles Reinsurance Company Ltd. has opposed Canal Insurance Co.’s efforts to reveal the recipient of an alleged fraudulent transfer of $547,722 from funds that were set aside to pay Golden Isles’ obligations to Canal under workers’ compensation reinsurance agreements.

In a July 5 opposition filed in the U.S. District Court for the Northern District of Georgia, Golden Isles says Canal failed to allege any basis to support its motion for leave to conduct limited discovery.

Golden Isles issued Canal Insurance Co. two reinsurance contracts in 2004. One of these agreements reinsured workers’ compensation policies and the ...

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