Calif. Federal Judge Directs Payment of $239,238.88 in Registry Funds to Odyssey Re

SAN DIEGO — A California federal judge has directed payment to Odyssey Reinsurance Co. of $239,238.88 in court registry funds deposited by the owner of an insurance agency which had been found to owe the reinsurer $3.2 million in commissions under a series of reinsurance agreements.

Judge Barry T. Moskowitz of the U.S. District Court for the Southern District of California explained in the Oct. 28 order that “the court may assign a right to payment which is the property of the judgment debtor to the judgment creditor in order to enforce a money judgment.

Insurance agency Cal-Regent underwrote …