Reinsurer Seeks Funds After Contempt Judgment In Fraudulent Transfer Case

Mealey's (July 13, 2020, 1:50 PM EDT) -- SAN DIEGO — Following a contempt judgment in its favor, a reinsurer in a July 7 motion asks a California federal court for direct payment of $239,238.88 in registry funds belonging to an insolvent insurance agency’s principal in its case concerning the agency’s alleged fraudulent transfer of assets to avoid payment of a $3.2 million judgment (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif.)....