Insurer Seeks N.C. High Court Review In Row Involving Insolvent Insurers’ Owner

(January 11, 2024, 1:48 PM EST) -- RALEIGH, N.C.  — A Puerto Rico-based insurer petitioned the North Carolina Supreme Court to review an appeals court decision that vacated a lower court injunction enjoining the owner of insolvent insurers from withdrawing without the North Carolina Insurance commissioner’s consent more than $5,000 from any entity controlled by the owner in an enforcement action for a $524 million judgment, arguing that the appellate court decision is contrary to Supreme Court precedent....