STORY FROM: Reinsurance & Arbitration

Canal Insurance, Golden Isles Agree to Settle Reinsurance Fraud Action

ATLANTA - An action in which Canal Insurance Co. accused Golden Isles Reinsurance Company Ltd. of fraudulently liquidating its assets to avoid paying its reinsurance obligations has been settled, according to a recent filing in Georgia federal court.

In a Jan. 18 joint notice of settlement filed before Judge Leigh Martin May of the U.S. District Court for the Northern District of Georgia, the parties reached a binding and enforceable agreement to settle the case.

The settlement will be memorialized in a formal written confidential settlement agreement, which will result in the dismissal of this action with prejudice ...

Associated Law Firms
Locke Lord
Robbins Ross Alloy Belinfante Littlefield

Associated Documents
Notice of Settlement

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