Long v. Beacon Insurance

PHILLIPS, Judge.

Pursuant to the provisions of N.C.G.S. 58-155.1, et seq., the petitioner brought this proceeding to rehabilitate Beacon Insurance Company, an insolvent insurance company organized under the laws of North Carolina. The appellants, Plymouth Insurance Company and Insurance Corporation of Ireland, were permitted to intervene because of claims that they have against Beacon Insurance Company under various contracts of reinsurance. Following developments not questioned by this appeal a final plan for the rehabilitation of the insolvent insurer was approved by the court. In…