Insolvent Insurer Seeks $45M Due To Default Of Loan By Borrower

(August 11, 2020, 12:10 PM EDT) -- ELIZABETH CITY, N.C. — An insurer, which is in rehabilitation, filed a breach of contract complaint on Aug. 10 in a North Carolina federal court seeking to recover $45,675,960 under a loan and security agreement based upon a borrower's default (Colorado Bankers Life Insurance Company v. Summerville Asset Management, LLC, et al., No. 20-432, E.D. N.C.)....

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