Providers Benefit Life Insurance v. Tidewater Group, Inc. (In Re Tidewater Group, Inc.)

ORDER

W. HOMER DRAKE, Jr., Bankruptcy Judge.

This proceeding comes before the Court on the above-referenced debtor’s application seeking approval of the settlement agreement entered into with Providers Benefit Life Insurance Company (hereinafter “Providers”). That settlement agreement was the result of the following facts:

1

On or about October 30, 1979, Providers and Tidewater Group, Inc. (hereinafter “Tidewater”) entered into an agreement for the purchase by Providers of 100% of the issued and outstanding capital stock of American Centennial Life Insurance Company (hereinafter “American…