Guaranty Bank & Trust Co. v. Ideal Mutual Insurance Co.

SAVOIE, Judge.

This appeal arises from a suspensive appeal filed by Louisiana Insurance Guaranty Association (hereafter LIGA), the defendant/appellant; and a devolutive appeal filed by Guaranty Bank & Trust Company (hereafter Guaranty), the plaintiff/appellant. The original defendants were Ideal Mutual Insurance Company (Ideal), Credit Protection Insurance Agency, Inc. (CPI), Allied Fidelity Insurance Company (AFIC), Allied Fidelity Corporation (AFC), and Robert C. Bundren. CPI entered into bankruptcy in January of 1983. Ideal was placed in liquidation in the State of New York on February 7,…