Vice Chancellor: Lifting Injunction Would Contravene Delaware’s Liquidation Act

(August 2, 2016, 1:33 PM EDT) -- WILMINGTON, Del. — A Delaware vice chancellor on July 7 denied a reinsurance trustee’s request that the Delaware Chancery Court lift an injunction against bringing lawsuits naming an insolvent insurer in liquidation (In the Matter of the Liquidation of Freestone Insurance Company, No. 9574-VCL, Del. Chanc.; 2016 Del. Ch. LEXIS 101).

(Opinion available. Document #10-160826-008Z.)

The Delaware Chancery Court on April 28, 2014, granted a petition filed by Delaware Insurance Commissioner Karen Weldin Stewart seeking the entry of rehabilitation and injunction concerning Freestone Insurance Co....
To view the full article, register now.