Commissioner of Insurance v. Central West Casualty Co.

Because of the financial difficulties of the Central West Casualty Company (herein referred to as the Central West), Charles E. Gauss, commissioner of insurance of the State of Michigan, was appointed its custodian on April 4, 1933, by the Wayne county circuit court in chancery. The company had built up a very large fidelity, surety and casualty business which would have been very valuable in the hands of a responsible successor. To preserve this good will by having a solvent corporation continue the business, the Great Lakes Casualty Company (herein called the Great Lakes) was formed…