Wealth Firms Seek Dismissal Of Breach Of Contract Suit Filed By Insurers In Rehabilitation

Mealey's (December 4, 2020, 12:45 PM EST) -- RALEIGH, N.C. — Two wealth management firms with interests in a loan agreement argue in Nov. 30 motions that a North Carolina federal court should dismiss a lawsuit brought by two insurers in rehabilitation seeking $12.5 million under the loan agreement because the insurers fail to assert claims for breach of contract and foreclosure on collateral (Colorado Bankers Life Insurance Company, et al. v. Academy Financial Assets, LLC, et al., No. 20-517, E.D. N.C.)....