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Article: Golden Eagle fight over; AIG concedes but will support California insolvency bill. (Liberty Mutual Insurance Co. wins over American International Group, Inc. for rehabilitation of Golden Eagle Insurance Co.)
- Article from:
- Business Insurance
- Article date:
- August 11, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO - Liberty Mutual Insurance Co. and California regulators have officially won the final round in the fight with American International Group Inc. over Golden Eagle Insurance Co.
San Francisco Superior Court Judge William Cahill issued a final order Aug. 4 approving Liberty Mutual's rehabilitation plan for San Diego-based Golden Eagle.
"Liberty Mutual is delighted Judge Cahill has approved the rehabilitation plan for Golden Eagle," said Fred Marziano, senior vp and leader of Liberty Mutual's Golden Eagle transition team.
"His decision concludes what has been a fair, open and orderly process conducted by the Department of Insurance and ...