Korlann v. E-Z Pay Plan, Inc.

Plaintiff is the Oregon receiver for Superior Mutual Insurance Co., an insolvent Wisconsin corporation. Defendants are two Oregon corporations, Manhattan Agencies, Inc., which placed automobile liability insurance with Superior and other insurance companies, and E-Z Pay Plan, Inc., which discounted the time-payment contracts of Manhattan’s customers as a means of financing their insurance premiums. Manhattan and E-Z Pay appeal a decree in favor of Superior’s receiver.

At the time of Superior’s insolvency, the account between Manhattan and Superior showed credits favoring Superior in the sum of…