Writ Of Execution For $585M Issued In Personal Guaranty Case Involving Reinsurance

Mealey's (July 13, 2022, 12:50 PM EDT) -- DURHAM, N.C. — Following notice by plaintiff Universal Life Insurance Co. (ULICO) that its latest motion for prejudgment attachment has been withdrawn, a North Carolina federal court on July 8 issued a writ of execution requiring the defendant to pay ULICO more than $585 million pursuant to a personal guaranty involving a reinsurance agreement....