Commissioner of Insurance v. Lloyds Insurance Co. of America, Inc.

I am not in accord with the foregoing opinions. In addition to the facts therein set forth, it should he státed that with the appointment of the Michigan receiver for Lloyds, August 16,1933, “to assist” the New York liquidator “in the liquidation of defendant company,” an injunction was issued “restraining any and all persons from bringing or further prosecuting any action at law or suit in equity” against the company.

On June 5, 1934, the bank secured an order modifying this injunction to enable it to prosecute to judgment its original action on the fidelity bonds. Such suit was then pending…