O'Malley v. Continental Life Insurance

This case, recently reassigned to the writer, was commenaced as a proceeding under the Insurance Code by the Superintendent of Insurance for dissolution and liquidation of the Continental Life Insurance Company, a Missouri insurance company. Impairment of capital, mismanagement, and insolvency, such as to render its further proceeding hazardous to the public or its policyholders, was charged by the superintendent and denied by the company. The court temporarily enjoined operations and placed an agent in charge of the company, under Section 5946, Revised Statutes 1929, pending the trial. After…