Arco Industries Corp. v. American Motorists Insurance

This case is before us on rehearing, limited to part vm of our most recent opinion in this dispute, Arco Industries Corp v American Motorists Ins Co (On Second Remand), 232 Mich App 146, 170-171; __ NW2d __ (1998). In part vin, we originally held that, in accordance with the language of the majority opinion in Yaldo v North Pointe Ins Co, 457 Mich 341; 578 NW2d 274 (1998), Arco was entitled to collect twelve percent penalty interest pursuant to MCL 500.2006; MSA 24.12006. Upon further review, we conclude that our reliance on Yaldo was misplaced. We now affirm the trial court’s determination…